PSU NBFC Co Inks 14,500 Cr MoU With Gujarat Govt, Shares Gain 154% YTD

Public sector undertaking Housing & Urban Development Corporation shares witnessed a sharp rally of 19.09% intraday today. The company informed today via its regulatory filing that it has signed a memorandum of understanding (MoU) with Gujarat government for an investment up to Rs 14,500 crore to finance the housing and urban infrastructure projects in Gujarat.

According to the BSE filing of the company dated December 27, 2023, "The State Government of Gujarat intends for overall development of the State of Gujarat by implementing various housing and infrastructure projects in the State of Gujarat. HUDCO being a techno-financial institution, in the business of providing financial assistance for housing and urban development projects in the country, thus catering to the various requirements of all sectors thereof, playing a vital role in strengthening the social and economic fundamentals of India thereby playing a pivotal role in building assets for the Nation."

HUDCO expressed its interest in executing this MoU for an investment up to Rs.14,500 Crore under Financial Services Sector in the form of financial assistance, as per its objectives and guidelines to the State Government of Gujarat for eligible sector projects through term loan for Infrastructure projects, added the BSE filing.

Housing & Urban Development Corporation Stock Performance & Return: Last trading price of Housing & Urban Development Corporation share on BSE is Rs 135.86 per share. Its 52-week high price is Rs 136.47 per share and 52-week low price is Rs 40.50 per share, respectively. The company has a market capitalisation of Rs 27,207.82 crore. Housing & Urban Development Corporation shares gained 57% in last 3-months, soared 154% year-to-date, offered return of 163% in last 1-year, and gained 245% in last 2-years. HUDCO shares surged 232% in last 3-years.

About HUDCO: Housing and Urban Development Corporation Ltd. (HUDCO) was incorporated as a fully owned Government Company under the Companies Act, 1956 with the main objective of financing Housing and Urban development projects in the country. Housing and Urban Development Corporation Ltd (HUDCO), is the premier techno-financing public sector enterprise.

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