HUDCO Share Price Surges 10% in Yesterday’s Trading Session ๐
In yesterday’s trading session, HUDCO’s share price was up by 10% before closing with a slight dip. Several government companies, including BHEL and NTPC, also saw a rise in their shares. BHEL’s share price increased by 11.68% to trade at โน285.15, while NTPC’s share price rose by 4.72% to reach โน357.10.
HUDCO’s share opened at โน253.75 with an 8.88% increase and closed at โน248.30 with a 0.54% decrease on Friday, 7th June 2024. The company’s promoters have been reducing their shareholding since September 2023, when they held 81.81% of the share capital. By December 2023, their share had decreased to 75.17% and further reduced to 75% by March 2024.
Foreign institutional investors have been increasing their stake in HUDCO, with their ownership rising from 0.33% in June 2023 to 0.65% in September 2023. In December 2023, they held 1.20% of the company’s shares, which increased to 1.91% by March 2024. Domestic institutional investors, on the other hand, held 11.39% of HUDCO’s shares in March 2024, down from 11.80% in December 2023.
HUDCO’s share price has seen a 5% decline in the past five trading sessions, but has outperformed investors with an 18% increase over the past month. Over the last six months, the share price has surged by 190%, turning a โน1 lakh investment into โน2.90 lakhs today. The stock is currently trading 95% higher in 2024 and has risen from โน60.75 to โน153 in the past year, with a 52-week high of โน300 and a low of โน56.90.
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