Multibagger PSU NBFC Set To Consider Dividend On May 24, LIC Stake 8.90%; Shares At 52-Week High

Public sector undertaking Housing & Urban Development Corporation shares (HUDCO) hit 52-week high today after it informed the upcoming meeting of Board of Directors to be held on May 24, 2024 to consider financial results and interim dividend. Housing & Urban Development Corporation Ltd shares surged 188% in last 6-months and 300% in last 1-year.

Life Insurance Corporation Of India has 8.90% stake in HUDCO with 178,236,999 shares of the company. The PSU has a market capitalisation of Rs 46,994.60 crore. More details below:

Housing & Urban Development Corporation To Consider Results, Dividend: According to the exchange filing of HUDCO, "A meeting of Board of Directors of the Company is scheduled to be held on Friday, 24th May, 2024 inter-alia:
i. To consider and approve the Audited Financial Statements (Standalone and Consolidated) for quarter & year ended 31 st March, 2024; and
ii. To consider recommendation of final dividend to the shareholders for the financial year 2023-24, if any, subject to the approval of the shareholders in the ensuing Annual General Meeting."

HUDCO Dividend History: Housing and Urban Development Corporation Ltd. announced 13 dividends since September 14, 2017. In last 1-year, HUDCO announced an equity dividend amounting to Rs 4.60 per share. At the current share price of Rs 234.75, Housing and Urban Development Corporation Ltd. offers dividend yield of 1.96%.

HUDCO Share Performance & Return: The 52-week high price of HUDCO share on BSE is Rs 245.00 apiece (as on 16/05/2024) and 52-week low price 54.40 apiece (as on 29/05/2023). HUDCO has a market capitalisation of Rs 46,994.60 crore. HUDCO shares gained 82% year-to-date, jumped 624% in last 2-years, and offered return of 418% in last 3-years.

HUDCO Shareholding: FII/FPI have increased holdings from 1.20% to 1.91% in Mar 2024 qtr. Number of FII/FPI investors increased from 50 to 78 in March 2024 quarter. Number of MF schemes increased from 12 to 15 in Mar 2024 quarter. Institutional Investors have increased holdings from 13.00% to 13.31% in Mar 2024 quarter, according to Trendlyne.

HUDCO Financials: The company on February 9, 2024 declared a surge of two-fold in its standalone profit after tax at Rs 519.19 crore for the quarter ended December 31, 2023. HUDCO had announced its standalone profit after tax (PAT) at Rs 254.32 crore for corresponding quarter of last year, as per its BSE filing. Its revenue from operations for the December 2023 quarter declared at Rs 2012.66 crore, up 18% as against Rs 1708.9 crore in the similar quarter of last year. The company said its PAT for April-December period rallied 33% YoY to Rs 1416.58 crore and revenue from operations during this tenure soared 10% to Rs 5719.07 crore.

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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