India's HUDCO up after government's plan to sell stake

Housing and Urban Development

26/02/2024 06:27

** Shares of Housing and Urban Development Corp  HUDC.NS  up
2%
    ** Stock rose as much as 7.3% to hit the day's high of
199.35 rupees earlier in the session
    ** State-run housing finance firm said India govt intends to
sell up to 0.17% stake in co in the open market 
    ** Stake sale proposed for HUDC to achieve minimum public
shareholding of 25%
    ** Stock up ~61% YTD after it more than doubled in value in
2023 
    

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))