The shares of Housing and Urban Development Corporation Limited (HUDCO) opened at Rs 42.35 on Wednesday and spiked by approximately 12 per cent to reach a new 52-week high of Rs 47.35 in the early trading hours.
The stock rallied after the company posted its quarterly results. Their revenue from operations in the period stood at Rs 1,738.61 Crores which increased marginally from Rs 1,745.62 crores in the same period a year earlier. Their net profit stood at Rs 396.31 crore in the period which increased from Rs 370.40 crore in Q2FY22.
The Housing and Urban Development Corporation Limited (HUDCO) is a public-sector undertaking that provides financial assistance to the public-sector enterprise, in the field of housing and infrastructure development.
In the past month, the stock has gained approximately 30 per cent, and in the past six months, the stock has been on an uptrend and has gained approximately 44 per cent.
Written by Anoushka Roy
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