Housing Development Finance Corporation (HDFC) fell 2.68% to Rs 2628.05, extending losses for the seventh trading session.
Shares of HDFC have fallen 7.87% in seven trading sessions. The stock has corrected 13% from its 52-week high of Rs 3,021.10 posted on 15 November 2021.On a year-to-date (YTD) basis, the stock has risen only 2.71% while the benchmark Nifty has added 21.6% during the same period.
On the technical front, the stock's RSI (relative strength index) stood at 32.293. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading below its 50-day, 100-day and 200-day simple moving average (SMA) placed at 2835.13, 2771.19 and 2642.76 respectively.
HDFC is engaged in financing by way of loans for the purchase or construction of residential houses, commercial real estate and certain other purposes, in India. The company's standalone net profit jumped 31.91% to Rs 3,780.50 crore on a 4.20% rise in total income to Rs 12,226.39 crore in Q2 FY22 over Q2 FY21.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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