Housing And Urban Development Corp Ltd (NSE: HUDCO): The share of Housing and Urban Development Corp Ltd (HUDCO) gained over 2 percent on the 29th of August.
The stock was trading at Rs 292 on the BSE. The state-owned company has received RBI authorization to issue an official certificate of registration for an Infrastructure Finance Non-Banking Finance Company (NBFC).
In the wake of this approval, the company has seen a surge in the stock of the firm today. After today’s surge, the market capitalization of the business has risen to Rs 58,625 crore rupees.
HUDCO Gets Approval For NBFC-IFC
The IFC status gives the company to take on a larger risk limit when financing various infrastructure sectors, including housing.
The company stated in an exchange report that it has been granted an official Certificate of Registration as a Non-Banking Financial Company – Infrastructure Finance Company (NBFC-IFC) from the Reserve Bank of India (RBI) today, on the 29th of August 2024.
HUDCO provides financial aid to urban infrastructure and housing projects.
Approvals increased 91.6 percent year-on-year in the June quarter, averaging around Rs 14,097 crore.
The book of loans during the quarter experienced an increase of 30 percent over the prior year, with a total of Rs 1.03 lakh crore.
Net interest earned by HUDCO (NII) rose 11.7 percent over the year to 711 crore rupees. Net profit increased by 25 percent, reaching Rs 558 crore.
HUDCO Gave 295 Percent Return In One Year
HUDCO’s share has decreased by 8 percent in the past month. Over the past six months, the company has earned an impressive profit with a range of 53 percent.
The share of the company has increased by 126 percent to the end of the year. However, it has delivered an impressive yield of 295 percent during the past year.
In the last five years, investors have earned a hefty return in the amount of 706 percent.
Quick Fact
Company name: Housing and Urban Development Corp (HUDCO)
| Company name | Housing and Urban Development Corp |
|---|---|
| Recent Gain | 2% on 29th August |
| Recent Price | ₹292 |
| RBI Approval | NBFC-IFC status |
| Market Value | ₹58,625 crore |
| Infrastructure Focus | Housing and urban projects |
| Loan Book Growth | 30% increase (June quarter) |
| Approvals Growth | 91% increase (June quarter) |
| NII Growth | 12% increase (June quarter) |
| Net Profit | ₹558 crore |
| Yearly Return | 295% in 1 year |
| Five-Year Return | 706% in 5 years |
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