Repco Home Finance Ltd shares surged as much as 14.1 per cent to Rs 676, its highest since September 14.

The housing finance company has posted a 22 per cent rise in September quarter net profit to Rs 55.87 crore.

Today's intra-day percentage gain is the biggest since July 2013.

More than 1.4 million shares were traded, compared with their 30-day average of 232,000 shares.

At about 11 am, the stock was quoting at Rs 638, up 7.72 per cent or Rs 45.70 on the NSE.

Repco reported Q2 PAT 9 per cent ahead of our estimates. Stronger than expected spreads, mainly due to better than expected yields led to the result beat, said Jefferies in a note. The brokerage has maintained its hold rating with a target price of Rs 585.

Thirteen of 18 brokerages rate the stock “buy” or higher, three “hold” and two “sell” or lower; their median price target is Rs 800.

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