HDFC summits
Housing finance major HDFC is trading up 4% at Rs 1,673, after attaining a life high of Rs 1,681, on renewed buying.
A strong growth in retail loans has helped the scrip to sustain investor interest.As many as 1.1 lakh shares changed hands in the counter on BSE.The stock has surged since early this month amid a bout of volatility. From Rs 1,428.10 on 1 November, it has risen 17.1% in a short while.
HDFC has remained immune to rising real estate prices and interest rates, which can impact housing loans. HDFC’s loan approvals during the six months ended 30 September 2006, aggregated Rs 14,729.01 crore, representing an increase of 28%. Loan disbursements during this period amounted to Rs 11,280.10 crore, compared to Rs 8,910.25 crore, an increase of 27%. Approvals and disbursements in respect of individual loans were 27% and 25% higher, respectively, compared to the corresponding six months of the previous year.
Last week, HDFC launched its operations in London. Located at Trafalgar Square, the Indian mortgage major will provide advisory services on housing finance and property acquisition in India. This is HDFC's second overseas office. The first one was opened in Dubai in 1995. Non-resident Indians (NRIs) account for 10% of HDFC's loan book.
HDFC’s net profit rose 23.1% in Q2 September 2006 to Rs 368.02 crore on 38.9% growth in total income to Rs 1,456.33 crore.
HDFC is likely to raise Tier II capital in the second half of the year. Earlier, HDFC had raised $500 million through an FCCB issue, the conversion price for which was fixed at Rs 1,399.
A strong growth in retail loans has helped the scrip to sustain investor interest.As many as 1.1 lakh shares changed hands in the counter on BSE.The stock has surged since early this month amid a bout of volatility. From Rs 1,428.10 on 1 November, it has risen 17.1% in a short while.
HDFC has remained immune to rising real estate prices and interest rates, which can impact housing loans. HDFC’s loan approvals during the six months ended 30 September 2006, aggregated Rs 14,729.01 crore, representing an increase of 28%. Loan disbursements during this period amounted to Rs 11,280.10 crore, compared to Rs 8,910.25 crore, an increase of 27%. Approvals and disbursements in respect of individual loans were 27% and 25% higher, respectively, compared to the corresponding six months of the previous year.
Last week, HDFC launched its operations in London. Located at Trafalgar Square, the Indian mortgage major will provide advisory services on housing finance and property acquisition in India. This is HDFC's second overseas office. The first one was opened in Dubai in 1995. Non-resident Indians (NRIs) account for 10% of HDFC's loan book.
HDFC’s net profit rose 23.1% in Q2 September 2006 to Rs 368.02 crore on 38.9% growth in total income to Rs 1,456.33 crore.
HDFC is likely to raise Tier II capital in the second half of the year. Earlier, HDFC had raised $500 million through an FCCB issue, the conversion price for which was fixed at Rs 1,399.
posted by SY at 3:43 PM
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