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HUDCO zooms on recovering old dues worth Rs 253.83 crore

Housing & Urban Development Corporation is currently trading at Rs. 39.10, up by 1.25 points or 3.30% from its previous closing of Rs. 37.85 on the BSE.

The scrip opened at Rs. 38.50 and has touched a high and low of Rs. 39.25 and Rs. 38.50 respectively. So far 105377 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 57.25 on 18-Sep-2018 and a 52 week low of Rs. 28.70 on 23-Aug-2019.

Last one week high and low of the scrip stood at Rs. 39.25 and Rs. 35.30 respectively. The current market cap of the company is Rs. 7827.43 crore.

The promoters holding in the company stood at 89.81%, while Institutions and Non-Institutions held 2.75% and 7.44% respectively.

Housing and Urban Development Corporation (HUDCO) has received an amount of Rs 253.83 crore (Principal Outstanding Rs 81.87 crore) in full and final settlement of its dues on September 13, 2019. The company has recovered the amount in an old default matter since June 2004.

HUDCO finances social housing and residential real estate through primarily lending to State Governments and their agencies, which, in turn, extend the finance to or utilise the finance for the ultimate individual beneficiaries.

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