• market on mobile

Pause Refresh
Home >> News >> HDFC gains after regulatory nod for merger
  • MARKETS
  • Share news on Facebook Share news on Twitter

      HDFC gains after regulatory nod for merger

      MoM Team / Mumbai, Aug 16, 2017 09:40 AM IST

        HDFC gains after regulatory nod for merger

        HDFC rose 1.3 percent to Rs 1,736 on BSE after the company said that the insurance regulatory authority has granted its final approval for the merger of HDFC's subsidiary and L&T General Insurance Company.

        The announcement was made after market hours on Monday, 14 August 2017. The stock market was shut yesterday, 15 August 2017 on account of Independence Day holiday.

        Meanwhile, the S&P BSE Sensex was down 31.18 points or 0.1 percent at 31,417.85.

        On the BSE, 14,000 shares were traded on the counter so far as against the average daily volumes of 2.88 lakh shares in the past one quarter. The stock had hit a high of Rs 1,758.35 and a low of Rs 1,719.50 so far during the day. The stock had hit a record high of Rs 1,799 on 1 August 2017 and a 52-week low of Rs 1,185 on 5 December 2016.

        The stock had outperformed the market over the past one month till 14 August 2017, advancing 4.01 percent compared with the Sensex's 1.79 percent fall. The stock had also outperformed the market over the past one quarter, gaining 10.69 percent as against the Sensex's 4.18 percent rise. The scrip had also outperformed the market over the past one year, advancing 24.36 percent as against the Sensex's 11.71 percent rise.

        The large-cap company has equity capital of Rs 318.65 crore. Face value per share is Rs 2.

        HDFC said that consequent to the approval of the National Company Law Tribunal, the Insurance Regulatory and Development Authority of India on 14 August 2017 has granted its final approval for the merger of HDFC ERGO General Insurance Company, a subsidiary of the company and L&T General Insurance Company.

        On consolidated basis, HDFC's net profit fell 2.3 percent to Rs 2733.87 crore on 6.9 percent growth in total income to Rs 14463.01 crore in Q1 June 2017 over Q1 June 2016.

        HDFC is India's first retail housing finance company and is currently one of the largest originators of housing loans in the country.


        Please rate this news :

        3 Ratings | 0 Reviews






        Post your comments on this article :

        Login below to leave a comment:

              







      Source: Capital Market



    INTRADAY CHART

    Prev. Close : 1848.85
    You need to upgrade your Flash Player
    Prev. Close : 1848.95
    You need to upgrade your Flash Player



    feedback