Housing Development Finance Corporation Ltd., incorporated in the year 1977, is a Large Cap company (having a market cap of Rs 447658.50 Crore) operating in NBFC sector.
Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 34082.97 Crore, up 13.79 % from last quarter Sales of Rs 29953.57 Crore and up 3.92 % from last year same quarter Sales of Rs 32796.50 Crore. Company reported net profit after tax of Rs 3392.98 Crore in latest quarter.
Investment Rationale
HDFC has been able to conquer its pre-Covid highs. The stock has posted a nice run up after taking supports at Rs 2,350 level. The stock has also broken its previous swing high of Rs 2,500, suggesting positive momentum in the stock could continue. The stock has also given a breakout on the weekly time frame.
Promoter/FII Holdings
FIIs held 70.87 per cent stake in the company as of March 31, 2020, while DIIs held 17.78 per cent, and public and others 11.08 per cent.
