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HDFC Shares Hit New High; Market Cap Crosses Rs 5 Trillion For The First Time

By Staff
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On Friday, shares of Housing Development Finance Corp Ltd (HDFC) touched a new record high of Rs 2,809 apiece, taking its market capitalisation to over the Rs 5 lakh crore mark.

The mortgage lender's market cap touched Rs 5.03 lakh crore (or trillion) during the day, as the stock gained nearly 90% from its March lows.

HDFC Shares Hit New High; Market Cap Crosses Rs 5 Trillion For The First Time
 

HDFC Ltd became the sixth Indian company to have achieved this milestone, after Reliance Industries Ltd, Tata Consultancy Services Ltd, HDFC Bank Ltd, Hindustan Unilever Ltd, and Infosys Ltd.

On Friday, the lender said the non-banking finance company said in a filing that "The Allotment Committee of the Corporation at its meeting"..."approved allotment of 17,36,497 equity shares of Rs 2 each under distinctive numbers 1800195903 to 1801932399 pursuant to exercise of stock options by certain director and employees of the corporation."

After the above allotment, the paid-up share capital of the corporation is over Rs 360.38 crore consisting of 180.19 crore equity shares of Rs 2 each, it added.

For the December quarter, HDFC reported a net profit of Rs 2,930 crore, down 65% from a year ago. Net interest income rose 25% to Rs 4,000 crore while operating profit grew 29% to Rs 4,190 crore.

Its loan book advanced 9.3% year-on-year to Rs 4.7 trillion, with individual and non-individual loan book rising 10.5% and 8%, respectively. Assets under management grew by 9.3%.

Story first published: Friday, February 12, 2021, 14:58 [IST]
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