/ HDFC rises on planning to raise funds worth Rs 35,000 crore via NCDs ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 25 July 2018

Housing Development Finance Corporation is currently trading at Rs. 1997.15, up by 17.95 points or 0.91% from its previous closing of Rs. 1979.20 on the BSE.The scrip opened at Rs. 1998.00 and has touched a high and low of Rs. 2001.25 and Rs. 1985.30 respectively. So far 20884 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2023.90 on 18-Jul-2018 and a 52 week low of Rs. 1620.65 on 26-Jul-2017.Last one week high and low of the scrip stood at Rs. 2,010.00 and Rs. 1957.50 respectively. The current market cap of the company is Rs. 337213.68 crore.

The Institutions and Non-Institutions holding in the company stood at 89.08% and 10.92% respectively.Housing Development Finance Corporation (HDFC) is planning to issue secured redeemable non-convertible debentures (NCDs) aggregating to Rs 35,000 crore on a private placement basis. The meeting of the Board of Directors of the Corporation will be held on July 30, 2018, to consider the same.

The company is also planning to raise External Commercial Borrowing (ECB) up to $1.5 billion equivalent from financial institutions, banks, multilateral financial agencies, mutual funds, body corporate, firms, association of persons or such other entities as approved by the Reserve Bank of India, in accordance with directions/guidelines issued by Reserve Bank of India.

HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services.

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