Miniratna CPSE HUDCO declares dividend, issues bonds worth Rs. 18000 Cr
2 min read . Updated: 14 Mar 2023, 04:54 PM IST
Premium- The Housing & Urban Development Corporation Ltd (HUDCO) is a govt of India enterprise falls under Miniratna I CPSE category.
The Housing & Urban Development Corporation Ltd (HUDCO) is a govt of India enterprise that falls under the Miniratna I CPSE category. The company is engaged in the field of housing and infrastructure development in the country. The firm issued an interim dividend for the fiscal year 2022–2023 and announced plans to raise funds through the issuance of bonds and debentures during a board meeting on March 14, 2023.
“The Board in its meeting held on 14th March, 2023 i.e., today, has approved the payment of interim dividend for the financial year 2022-23 @ 7.5%, Rs. 0.75/- per equity share of Rs. 10/- each. Further, the Record date of Wednesday, 22nd March, 2023, fixed for determining the eligibility of shareholders for payment of Interim Dividend for the financial year 2022-23 (already intimated, vide our letter dated 28th February, 2023) has been confirmed by the Board of Directors in the aforesaid meeting. Further, the matter relating to Annual Resource plan/programme for raising of funds through issue of bonds/ debentures, as may be permitted by the regulatory authorities from time to time during the financial year 2023-24 up to a maximum of Rs. 18000 crores, has also been approved by the Board," said HUDCO in a stock exchange filing on Tuesday.
During Q3FY23, the company recorded a net income of ₹1,719.96 Cr compared to ₹1,709.41 Cr recorded in Q3FY22. The company said its net expenses stood at ₹1,379.64 Cr during the quarter ended December 2022 compared to ₹1,447.27 Cr reached during the quarter ended December 2021. HUDCO said its net profit stood at ₹254.32 Cr in Q3FY23, compared to ₹194.63 Cr in Q3FY22 and the EPS stood at ₹1.27 compared to ₹0.97 in the same quarter of FY22.
The shares of HUDCO closed today on the NSE at ₹45.80 apiece, down by 1.08% from the previous close of ₹46.30. The stock recorded a total volume average of 30,30,466 shares compared to the 20-Day average volume of 28,50,544 shares. In the last 1 year, the stock has gained 35.30% and on a YTD basis, it has fallen 14.39% so far in 2023. The stock touched a 52-week-high of ₹58.85 on (15-Dec-2022) and a 52-week-low of ₹30.60 on (12-May-2022). During Q3FY23, the company recorded a promoter shareholding of 81.81%, FIIs stake of 0.12%, DIIs stake of 7.30% and a public stake of 10.77%.