Housing & Urban Development Corporation (HUDCO) has gained momentum in the stock market, with its shares hitting a 52-week high on the NSE at ₹325.80. The stock is trading in the green, along with other Indian stock markets, on 4 July 2024. Stay updated with the latest share prices, BSE, NSE, Sensex and Nifty updates on BusinessLine to stay ahead in the game. Download the BusinessLine apps for additional benefits.
HUDCO Stock Hits 52-Week High amidst Market Momentum
Background
Housing and Urban Development Corporation (HUDCO) is a Government of India enterprise established in 1970. It provides loans and financial assistance for the development of housing, urban infrastructure, and other related projects. HUDCO plays a pivotal role in promoting affordable housing and sustainable urban development in the country.
Recent Performance
On July 4, 2024, HUDCO's stock price surged to ₹325.80 on the National Stock Exchange (NSE), marking a 52-week high. The stock has been performing well in line with the overall positive sentiment in the Indian stock market.
Factors Driving Momentum
Several factors are believed to be contributing to the momentum in HUDCO's stock price:
FAQs
1. What is HUDCO's main business?
HUDCO provides loans and financial assistance for the development of housing, urban infrastructure, and other related projects.
2. Why did HUDCO stock hit a 52-week high?
Factors contributing to the momentum include increased demand for affordable housing, government support, consistent financial performance, and the overall market recovery.
3. What is the current share price of HUDCO?
As of July 4, 2024, the share price of HUDCO on the NSE was ₹325.80.
4. Is HUDCO a good investment option?
HUDCO's strong financial performance, focus on affordable housing, and government support make it a potentially attractive investment option. However, investors should conduct their own due diligence before making any investment decisions.
5. What are some past events that have impacted HUDCO's stock price?
Past events that have influenced HUDCO's stock price include changes in government policies, economic downturns, and fluctuations in the real estate market.
Ola Cabs founder-CEO Bhavish Aggarwal announced the company's full exit from Google Maps and shift to its own in-house mapping service, Ola Maps. The move, made in response to Microsoft-owned LinkedIn removing Aggarwal's post, will save Ola Rs 100 crore annually. Aggarwal also highlighted Ola Maps' upcoming features and integration into its electric two-wheelers. He further stressed the need for India to have its own technology stack, including AI models, cloud infrastructure, and data centers, to lead the AI revolution and ensure data sovereignty.
Paytm's founder, Vijay Shekhar Sharma, spoke candidly about his personal and professional challenges after the Reserve Bank of India's action on Paytm Payments Bank earlier this year. He admitted that it was a learning lesson and that the company should have fulfilled its responsibilities better. Despite setbacks, Sharma's personal ambition is to build a USD 100-billion company and cement the Paytm brand's presence globally. He also shared his thoughts on the value and joy of taking a company public.
The All India Loco Running Staff Association's South Zone president, R Kumaresan, led a group of loco drivers who met with Former Congress President Rahul Gandhi to discuss the pressing issue of safety concerns faced by drivers and passengers in the Indian Railways. Loco pilots highlighted the long working hours, with some working up to 16 hours a day, lack of adequate weekly rest, and inadequate leave to attend to their domestic responsibilities as major issues affecting their job performance. The memorandum presented to Gandhi also pointed out that the inadequate weekly rest allotted to loco pilots has been a major cause for incidents of overshooting red signals. The association is calling for immediate action and resolution to these pressing problems to ensure the safety of all involved in the Indian Railways.
Prime Minister Narendra Modi has inaugurated the Delhi-Faridabad Metro Line which extends the existing Green Line to Indraprastha. This will provide hassle-free and affordable travel for around two lakh daily commuters between Delhi and Faridabad. The total cost of the project is approximately Rs. 2,500 crore, with contributions from the Haryana government, the Centre, and Delhi Metro. This nine-station elevated corridor is 95% indigenously built, providing a safe, quick, and sustainable transport option for residents. The Haryana Chief Minister has expressed gratitude to the Prime Minister for this development, and also announced plans for connecting Gurgaon with Faridabad via Metro.
LG, a leading agricultural company, is offering a Grower Demo Day to showcase their highest yielding winter wheat, 2-row winter barley, OSR, and maize varieties. By attending, growers can compare and learn about the varieties' agronomics and even get a first look at new wheat variety, LG Beowulf. This event is limited and offers BASIS & NRoSO points, as well as a moisture meter clinic. Don't miss out and register now to elevate your returns.
In the fast-paced world of business, continuous learning and self-improvement are essential for entrepreneurs. With the rise of online education, it has become easier to enhance core skills such as financial management, market analysis, and digital marketing from the comfort of your home. Strong business acumen is the foundation for making informed decisions, understanding market dynamics, and driving company growth. By focusing on key areas such as financial statements and market analysis, individuals can develop a strong business acumen and align their work with their company's goals.
Bajaj has introduced the Bajaj Freedom 125 CNG bike, which boasts of not only its impressive mileage but also its strong safety features. The CNG tank is specially designed and certified to meet government safety standards and has undergone rigorous testing, including frontal, side, and rear impact tests. Despite being hit by a 1.5-ton load and run over by a 10-ton truck, the CNG tank remains intact with no leaks, dispelling any doubts about the safety of CNG bikes. Bookings are now open for select states, with a pan-India rollout planned in the coming years.
Despite gaining quick fame and recognition, co-founders Aprameya Radhakrishna and Mayank Bidawatka were forced to shut down their social networking platform, Koo, due to hesitant investors and the high cost of technology services. Despite winning awards and being ranked among the top social media products in the Asia-Pacific region, Koo faced funding troubles and had to lay off 30% of its workforce. The founders, however, remain determined and hope to challenge global giants in the future with better funding opportunities.
As the demand for food continues to rise, emerging agricultural economies such as India, Japan, and China are turning to pesticides to increase productivity and minimize crop damage. This has led to a projected CAGR of 6.80% for the pesticides market during the forecast period of 2009-2016. The market is also being driven by innovations such as environmentally friendly bio-pesticides and the integration of pest management in agricultural practices.
Bajaj Auto, one of the leading two-wheeler manufacturers, has launched the world's first CNG motorcycle, the Freedom 125. With an ex-showroom price starting at Rs 95,000, the bike offers the ability to toggle between petrol and Compressed Natural Gas powertrains. According to the company, the bike has a range of 330 km and can run 200 km on one full tank of CNG. The launch was attended by Rajiv Bajaj, MD of Bajaj Auto, and Nitin Gadkari, Union Minister for Road Transport & Highways. This launch is expected to provide riders with a 50% reduction in operational costs.