India's HUDCO extends gains, leaps to record high

Housing and Urban Development

28/12/2023 06:38

** Shares of Housing and Urban Development Corp Ltd
 HUDC.NS  extends Wednesday's gains, rises 18% 
    ** Co hit a record high of 135.65 rupees earlier in the
session
    ** Stock on track for its best monthly gain ever
    ** Co on Wednesday before market close said it signed a deal
with the Gujarat state government to invest up to 145 bln rupees
($1.74 billion)
    ** Co closed 8.1% higher on Wednesday
    ** More than 3.18 bln shares traded so far this year,
busiest trading year ever
    ** Stock trading above its 200-day simple moving average
since 29 March, two days after co was assigned a chairman & MD
for six months
    ** Stock up 158.4% YTD, on track for largest yearly gain
ever


($1 = 83.2440 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))