Stocks

HUDCO may rise as one account turns good

| Updated on January 10, 2020 Published on January 10, 2020

Shares of Housing & Urban Development Corporation may turn positive on Monday after the housing mortgage major received funds from one of its defaulting borrowers. On December 4, 2019, the PSU had informed the exchanges that two borrowing agencies had defaulted on repayment of dues worth ₹87.46 crore. Now, one of the borrowing agencies, with principal outstanding of ₹726.35 crore, cleared its dues on January 9, thus moving out of the NPA list, HUDCO said.

Published on January 10, 2020
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