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.
In response to the high demand for holiday travel to Madagascar, Emirates has announced a fifth weekly flight on its Dubai – Antananarivo route. The additional frequency will run from December 13, 2024 to January 10, 2025 and will provide more capacity on the route, allowing for over 1,800 seats per week. This temporary increase in capacity, which will utilize Emirates' Boeing 777-300ER aircraft, will also boost connectivity to the Seychelles and other popular destinations in Emirates' network. With an ethnically diverse population, the increased capacity is expected to cater to the demand from travellers flying to countries such as Sri Lanka, France, and China.
The Institute of Banking Personnel Selection (IBPS) has declared the results for the Probationary Officer (PO) preliminary examination held on October 19 and 20, 2024. Candidates can now check their results and download the scorecard from the official IBPS website. Those who qualify for the prelims will appear for the mains exam on November 30, 2024, and the final merit list will be based on the marks obtained in both exams.
Zomato CEO Deepinder Goyal has reversed his decision to charge a Rs 20 lakh fee for the position of Chief of Staff after facing severe backlash on social media. In a recent update, he clarified that the fee was only a filter to find candidates who were passionate about a fast-track career. This is not the first time Goyal has backtracked on a controversial decision, as Zomato previously retracted a service for delivering only vegetarian food after public criticism.
Billionaire Gautam Adani's conglomerate, the Adani Group, is facing allegations of a $250 million bribery scheme involving solar energy contracts and Indian officials. This comes just after the group's recovery from accusations of stock manipulation and fraud by Hindenburg Research. The controversy surrounds a deal announced in June 2020, where Adani Green Energy Limited (AGEL) won a $6 billion "manufacturing-linked solar agreement" from the Solar Energy Corporation of India (SECI), expected to generate over $2 billion in profits and reduce carbon emissions. The company has emphasized the investment's alignment with India's Atma Nirbhar Bharat Abhiyan and climate commitments.
Spright Agro, a leading player in the sector, has announced the launch of an expert investment program on Whatsapp to provide valuable and timely advice to industry players. This program aims to assist individuals and organizations in making wise investments and staying updated on the latest market trends. By partnering with Spright Agro for investment advice, players can stay ahead of the competition and achieve financial success in the sector.
On Sunday, KLE Society Chairman Prabhakar Kore inaugurated the Kore Prabhakar Sahukar Co-operative Credit Society at Ankali near Chikkodi in Belagavi district. During the event, Jagadguru Channasiddarama Panditaradhya Swamiji of Yadur and Srishaila Peetha urged leaders of cooperative societies to provide selfless service to society for the benefit of the economically and socially backward, farmers, and the poor. Other prominent figures, such as Rani Channamma Urban Bank chairperson Asha Kore and CB Kore Co-operative Sugar Factory president Mallikarjuna Kore, were also present at the event.
The Adani Group, a major Indian conglomerate, faced a devastating blow on Thursday as its stock prices plunged by as much as 20% following the indictment of its founder and chairman, Gautam Adani. Adani and seven other individuals were charged with paying over $250 million in bribes to Indian government officials in order to secure lucrative solar energy contracts. The fallout from the scandal has also impacted other stocks in Adani's portfolio, including Adani Green Energy and Adani Total Gas. Stay updated on this developing story with Zee Business's comprehensive coverage on various platforms.
The chair of Adani Group, Gautam Adani, has been indicted in New York for his alleged involvement in a multibillion-dollar bribery and fraud scheme, according to US prosecutors. Adani and seven other defendants, including his nephew Sagar Adani, are accused of paying $265 million in bribes to Indian government officials in order to secure contracts and develop a massive solar power plant project in India. The scheme is expected to generate $2 billion in profit over 20 years.
Luxury carmaker Jaguar has revealed a dramatic rebranding, showcasing its new "leaper" cat emblem and provocative slogan, "Delete Ordinary." With its Exuberant Modernism philosophy, the brand aims to make a statement in the luxury car market, focusing on originality and fearless creativity. This transformation is a tribute to Jaguar's founder, Sir William Lyons, and sets the tone for a future where the brand pushes boundaries and defies convention. As Jaguar leaves behind the mundane and enters an era of daring, dynamic vision, they invite audiences to stay updated on their journey of fearless expansion and evolution.
Zomato CEO Deepinder Goyal has garnered attention with his unconventional job opening for a Chief of Staff position. The selected candidate will receive no salary in the first year and will have to pay an advance of Rs 20 lakh. Goyal clarified that this approach is meant to attract individuals driven by learning and contribution, rather than financial gain. This unique hiring process sets a new precedent in the Indian business industry and is being met with both curiosity and skepticism.