India's HDFC hits over 1-yr high on Q4 profit rise

Housing Development Finance

04/05/2023 10:29

** Shares of Housing Development Finance Corporation Ltd
 HDFC.NS  rise as much as 2.6% to 2,859.9 rupees, highest since
April 4, 2022
    ** Mortgage lender March-qtr profit after tax rises 19.6% to
44.26 bln rupees ($541.0 mln) on loan growth driven by housing
demand; interest income rises 38.5% 
    ** Stock trading above its 50-, 100-, and 200-day moving
averages
    ** Trading volume at ~3.68 mln shares, at par with the
30-day avg as of 2:30 p.m. IST 
    ** Up to last close, stock was up 5.7% so far this year



($1 = 81.8080 Indian rupees)

 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))