HUDCO Share Price 12 February 2024: A Record-Breaking Performance 📈💰
HUDCO, the state-owned financial company, has announced its quarterly results for December. The company’s profits have doubled, reaching a staggering ₹519 crores. In the third quarter, HUDCO recorded a net profit of ₹519.19 crores, compared to ₹254.32 crores a year ago. Additionally, the company’s revenue increased by 18% to ₹2,012.66 crores.
📊 Impressive Stock Performance:
HUDCO’s share price closed at ₹200. Over the past three months, the stock has delivered a remarkable 150% multibagger return. This surge in share price has been a boon for investors.
📈 Financial Highlights:
★Pre-tax profit increased from ₹340.32 crores to ₹696.09 crores, showcasing a significant growth of 105%.
★Net interest margin stood at 3.18% for the nine-month period of FY24, indicating a healthy performance.
★Return on assets rose from 1.81% to 2.26%, reflecting the company’s efficient management of assets.
★Equity return surged from 9.45% to 11.62%, demonstrating an improved profitability ratio.
★Earnings per share (EPS) witnessed an impressive growth from ₹5.31 to ₹7.08.
📉 Recent Market Performance:
HUDCO’s share price was trading at ₹180 on Monday, experiencing a decline of 9.94%. However, it is noteworthy that the stock has delivered exceptional returns of 60% in the past month, 150% in the past three months, 205% in the past six months, and a staggering 325% in the past year.
🏘️ Positive Impact of Budget:
In the recent budget, it was announced that 2 crore new houses will be constructed under the Pradhan Mantri Awas Yojana-Gramin in the next five years. This development is expected to benefit HUDCO significantly, further boosting its performance.
HUDCO’s share price has been on a remarkable upward trajectory, making it an attractive investment option. With its outstanding financial results and positive market sentiment, HUDCO is poised for even greater success in the future. 🚀💼
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
