For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

HDFC Shares Surge Over 1.5% After Q3FY20 Results

|

HDFC shares in Tuesday's early trade opened higher at Rs. 2413 versus its previous closing of Rs. 2395.80 per share on the BSE.

On January 27, the housing finance major HDFC reported a whopping 296% jump in profit on a year on year basis. The sharp rise in profit is attributed to fair value gain on account of merger between Gruh Finance and Bandhan Bank. Profit at the housing major for the past quarter has been placed at Rs. 8372.5 crore.

HDFC Shares Surge Over 1.5% After Q3FY20 Results
 

For the period under review, operations from revenue also scaled higher by as much as 92% YoY to Rs. 20285.47 crore. Post the merger of Bandhan Bank with Gruh Finance, which is an associate company of HDFC, the company got 9.9% stake in Bandhan Bank. HDFC said it has recognised a fair value gain of Rs 9,019.81 crore on derecognition of investment in Gruh Finance.

The stock was last trading higher by 0.93% at Rs. 2418.05, while it made an intra-day high of Rs. 2435 apiece.

GoodReturns.in

Read more about: hdfc earnings
Story first published: Tuesday, January 28, 2020, 9:23 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more