Stocks

Hudco shares jump 13% on higher profit

Reuters | Updated on September 06, 2018 Published on September 06, 2018

Shares of Housing and Urban Development Corporation Ltd jumped as much as 13.1 per cent to Rs 63, its highest since June 13.

June-quarter net profit after tax surged 105 per cent to Rs 333 crore ($46.34 million), helped by higher revenue, the financing company said after market hours on Wednesday. The stock posted its sharpest intra-day percentage gain since July 2017.

As of last close, the stock was down 32.5 per cent this year.

Trade volumes were heavy in the stock; more than 6.3 million shares were traded, compared with the 30-day average of 905,747 shares.

Published on September 06, 2018
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