Page 2 - Hudco

HUDCO Q2 net profit rises 14% to Rs 451.69 cr on higher interest income

State-owned Housing and Urban Development Corporation Ltd (HUDCO) on Friday reported a 14 per cent rise in net profit to Rs 451.69 crore for the September quarter, mainly on account of higher interest income. The company had posted a net profit of Rs 396.35 crore in the July-September quarter of 2022-23. In a stock exchange filing, HUDCO posted a higher total income of Rs 1,880.85 crore during the second quarter of the current financial year as against Rs 1,746.87 crore in the year-ago period. HUDCO's interest income in the second quarter of 2023-24 stood at Rs 1,844 crore as against Rs 1,722.74 crore a year ago. In the first six months of the year, its profit stood at Rs 897.39 crore, up from Rs 808.11 crore in the comparable period of the last year. The company's shares closed 1.08 per cent higher at Rs 80.30 apiece on the BSE.

Stocks to Watch today: ICICI Bank, Hudco, NDTV, ABFRL, Samvardhan, Paytm

Stocks to Watch on Monday, October 23, 2023: Paytm said its revenue increased 32 per cent YoY to Rs 2,519 crore in the second quarter, with its consolidated net loss narrowing to Rs 291 crore

Hudco plunges 9% as govt begins partial stake sale via OFS at discount

The floor price for the sale, however, has been set at Rs 79 apiece, which is 12 per cent lower than Tuesday's closing price pf Rs 89.9 per share

Stocks to Watch today: Bajaj Finance, LTTS, Zensar, HUDCO, Glenmark, Biocon

Stocks to watch on Wednesday, October 18, 2023: Bajaj Auto, Bandhan Bank, IndusInd Bank, LTIMindtree and Wipro to be in focus ahead of Q2 results today.

Govt may divest 7% stake in Hudco, Torrent Pharma's promoters get exemption

Sebi has granted open offer exem­ption to the promoters of Torrent Pharma and Torrent Power

Govt to sell up to 7% stake in HUDCO through an offer for sale this week

The plan includes selling 3.5% of the company, with an option to sell an additional 3.5% if the offer is oversubscribed

Hudco hits over 5-yr high; stock zooms 95% since April on positive outlook

The future outlook in terms of Government's sectoral focus and related developments have positive implications for Hudco's medium-term and long-term strategies

HUDCO hits 52-week high on stable outlook; stock up 40% so far in November

Moody's Investor Service expects the HUDCO's liquidity and funding to remain stable over the next 12-18 months because of its status as a government-owned company

Hudco board approve to raise up to Rs 22,000 crore through bonds

State-owned HUDCO on Thursday said its board has approved the proposal to raise up to Rs 22,000 crore through bonds and debentures to finance affordable housing and urban infrastructure projects. The board of Housing & Urban Development Corporation Ltd (HUDCO) in its meeting held on Wednesday gave approval to this effect, the company said in a regulatory filing. The board of directors has approved the Annual Resource Plan of the company by raising funds through the issue of bonds/debentures, as may be permitted by regulatory authorities from time to time during the financial year 2022-23, up to a maximum of Rs 22,000 crore. HUDCO is a techno-financial institution engaged in the financing and promotion of housing and urban infrastructure projects across the country. It is under the administrative control of the Ministry of Housing and Urban Affairs.

Centre divests 8% in Hudco, Glenmark Life subscribed 4x on penultimate day

Rolex Rings subscribed 3.5 times on Day-1, Tatva Chintan to list on Thursday

Institutional buyers put in Rs 870 cr of bids for HUDCO share sale

Institutional investors on Tuesday placed bids worth over Rs 870 crore in the government's 8 per cent share sale in HUDCO. Institutional investors put in bids for over 19.40 crore shares against the base issue size of more than 9.90 crore shares. At the indicative price of Rs 45.03 apiece, the bids put in by institutional bidders are valued at over Rs 870 crore. "The OFS of HUDCO got good response on Day one. Issue subscribed nearly two times of base size by non-retail investors. Government has decided to exercise the green-shoe option, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey tweeted. The government is selling up to 8 per cent stake sale in HUDCO at a floor price of Rs 45 apiece. Bids would open for retail investors on Wednesday. The sale of over 16.01 crore shares, or a total of 8 per cent stake, would fetch around Rs 720 crore to the exchequer. The OFS comprises a base issue size of 5 per cent stake or over 11.01 crore shares, w

Sensex drops 274 pts, Nifty ends below 15,750; DRL sinks 10%, Axis Bank 3%

In the broader markets, mid-cap stocks faced a severe blow with the BSE MidCap index erasing 0.67 per cent.

Stocks to watch: Tata Motors, L&T, IndiGo, Just Dial, HUDCO, Axis Bank, DRL

Larsen & Toubro (L&T) reported a consolidated net profit at Rs 1,174 crore in the June quarter, up nearly four times from the same period last year on the back of increased revenues

Govt to sell 8% stake in Hudco via offer for sale; may get Rs 720 crore

Sale would reduce govt's holding in the firm to 81.81% if it exercises greenshoe option, and offloads entire 8% in the PSU

Hudco net profit declines 37% to Rs 457 crore in September quarter

Housing and Urban Development Corporation Ltd (HUDCO) on Thursday reported a 37 per cent fall in its consolidated net profit at Rs 457.25 crore for the quarter ended September.

UP govt to tap private lenders for Rs 36,000 crore Ganga Expressway project

The 628 km project is branded as world's longest access controlled road

Sensex dips 474 pts from day's high, ends at 38,757; BSE SmallCap jumps 4%

All that happened in the markets today

UP to raise Rs 2,900 crore from Hudco for 628-km Ganga Expressway

The mega infra project is estimated to cost Rs 36,000 cr; loan to be used for land acquisition

Fitch revises HUDCO's outlook to negative from stable; IDRs at 'BBB-'

Fitch said it has not assigned HUDCO a standalone credit profile as it is difficult to detach the entity from the government framework in which it operates

80% of financial sector IPOs since four years trade below issue price

The fall, analysts say, has been on concerns that the financial industry has will be the worst hit among sectors, given the disruptions to the country's economic activity caused by Covid-19 outbreak.