On Monday, Multibagger Mini Ratna stock jumped 3.4 percent after entering into a Memorandum of Understanding (MoU) with NBCC (India) Ltd. The stock has delivered multibagger returns of 187 percent in six months and 377 percent in one year.
With a market capitalization of Rs 41,099.01 crore, the Housing and Urban Development Corporation Ltd. stock price rose by 3.4 percent from its previous close of Rs 199.45 per share to an intraday high of Rs 213.70 per share.
Housing and Urban Development Corporation Ltd. (HUDCO) entered into a memorandum of understanding (MoU) with NBCC (India) Ltd. for reinforcing cooperation and collaboration to utilise respective strengths for the implementation of consultancy services, asset monetization activities, and corporate social responsibility (CSR) in the normal course of business.
According to the company’s recent report, HUDCO has a pan-India presence with 21 regional offices and 11 development offices across India, and the company has secured a total category-wise sanction of Rs 24,572 crore in FY23.
On a yearly basis, revenue from operations increased by 18 percent from Rs 1710 crore in Q3 FY23 to Rs 2013 crore in Q3 FY24, and in the same period, net profits increased by 104 percent from Rs 254 crore to Rs 519 crore.
Sequentially, on a quarterly basis, revenue from operations increased by 8 percent from Rs 1865 crore in Q2 FY24 to Rs 2013 crore in Q3 FY24, and in the same period, net profits increased by 15 percent from Rs 452 percent to Rs 519 percent.
The shareholder pattern shows that 81.81 percent is held by the promoters, followed by 10.40 percent by the public, and the remaining 7.15 percent by the domestic institutional investors (DII), 0.65 percent by the foreign institutional investors (FII).
Housing and Urban Development Corporation (HUDCO) is a public sector undertaking company, incorporated in 1970, engaged in providing financing support to housing and development activities in India.
Written By Praveen R
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