HUDCO

Moody's Investor Service expects the HUDCO's liquidity and funding to remain stable over the next 12-18 months because of its status as a government-owned company

State-owned HUDCO on Thursday said its board has approved the proposal to raise up to Rs 22,000 crore through bonds and debentures to finance affordable housing and urban infrastructure projects. The board of Housing & Urban Development Corporation Ltd (HUDCO) in its meeting held on Wednesday gave approval to this effect, the company said in a regulatory filing. The board of directors has approved the Annual Resource Plan of the company by raising funds through the issue of bonds/debentures, as may be permitted by regulatory authorities from time to time during the financial year 2022-23, up to a maximum of Rs 22,000 crore. HUDCO is a techno-financial institution engaged in the financing and promotion of housing and urban infrastructure projects across the country. It is under the administrative control of the Ministry of Housing and Urban Affairs.

Rolex Rings subscribed 3.5 times on Day-1, Tatva Chintan to list on Thursday

Institutional investors on Tuesday placed bids worth over Rs 870 crore in the government's 8 per cent share sale in HUDCO. Institutional investors put in bids for over 19.40 crore shares against the base issue size of more than 9.90 crore shares. At the indicative price of Rs 45.03 apiece, the bids put in by institutional bidders are valued at over Rs 870 crore. "The OFS of HUDCO got good response on Day one. Issue subscribed nearly two times of base size by non-retail investors. Government has decided to exercise the green-shoe option, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey tweeted. The government is selling up to 8 per cent stake sale in HUDCO at a floor price of Rs 45 apiece. Bids would open for retail investors on Wednesday. The sale of over 16.01 crore shares, or a total of 8 per cent stake, would fetch around Rs 720 crore to the exchequer. The OFS comprises a base issue size of 5 per cent stake or over 11.01 crore shares, w

In the broader markets, mid-cap stocks faced a severe blow with the BSE MidCap index erasing 0.67 per cent.

Larsen & Toubro (L&T) reported a consolidated net profit at Rs 1,174 crore in the June quarter, up nearly four times from the same period last year on the back of increased revenues

Sale would reduce govt's holding in the firm to 81.81% if it exercises greenshoe option, and offloads entire 8% in the PSU

Housing and Urban Development Corporation Ltd (HUDCO) on Thursday reported a 37 per cent fall in its consolidated net profit at Rs 457.25 crore for the quarter ended September.

The 628 km project is branded as world's longest access controlled road

All that happened in the markets today

The mega infra project is estimated to cost Rs 36,000 cr; loan to be used for land acquisition

Fitch said it has not assigned HUDCO a standalone credit profile as it is difficult to detach the entity from the government framework in which it operates

The fall, analysts say, has been on concerns that the financial industry has will be the worst hit among sectors, given the disruptions to the country's economic activity caused by Covid-19 outbreak.

Last month Moody's Investor Service had downgraded the company's outlook to 'negative' along with 5 other financial companies including State bank of India, HDFC Bank, and Export-Import Bank of India

The outlook was revised down for EXIM India, HDFC Bank, Hero FinCorp, HUDCO, IRFC, and SBI

The appellate tribunal was hearing an intervention plea by HUDCO, claiming dues of Rs 195 crore from Bakshi

NCLAT agrees to hear Hudco plea on Wednesday; dues related to Bakshi-owned Ascot Hotels & Resorts

Moody's said around 95% of its outstanding loans and 99% of fresh disbursements over last three years, have been to state government-owned entities

The stock of state-owned housing finance company was quoting lower for the ninth straight trading days, falling 7% during the period.

Government-owned Housing and Urban Development Corporation's (Hudco's) stock has gained a little over 40 per cent in the past three days. Even after Tuesday's 12 per cent rally, the stock continued to be in demand, with a gain of 8.5 per cent on Wednesday. Turnover in the counter has also been unusually high in these three days, with Thursday's crossing Rs 150 crore, from data on the BSE. Sources indicate one of India's well-known high net worth individuals (HNIs) is mopping stake in Hudco, explaining the unusual trading volumes and price surge. "With affordable housing being the new theme, particularly for HNIs, investors are willing to acquire Hudco's shares at even a substantial premium," says a broker with knowledge of the deal.He adds that with the government holding about 89 per cent, free float of the stock is limited and adding to its premium. Even after the rise in these three days, its market capitalisation is only Rs 1,995 crore, the free float being a mere Rs 220 crore. ...