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HDFC shares hit 52 week high as individual loan disbursements rise

HDFC shares hit 52-week high as individual loan disbursements rise

HDFC shares hit 52-week high as individual loan disbursements rise
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By CNBCTV18.com Jan 5, 2021 10:21:53 AM IST (Published)

HDFC said its disbursements in the individual loan category have grown by 26 percent during the quarter ended December 2020.

The share price of Housing Development Finance Corporation Ltd (HDFC) rallied over 2 percent to hit a fresh 52-week high of Rs 2,634.70 apiece on the BSE on Tuesday after the company reported a 26 percent rise in loan disbursement for the third quarter of fiscal 2021.

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The country’s largest mortgage lender said its disbursements in the individual loan category have grown by 26 percent during the quarter ended December 2020.
The individual loan business continued to see improvements during the December quarter, HDFC Ltd said in a regulatory filing on Monday.
“Disbursement growth over the corresponding quarter of the previous year was 26 percent. For the nine months ended December 31, 2020, individual loan disbursements stood at 86 percent of the levels in the corresponding period of the previous year,” HDFC said.
Gross income from the dividend for the quarter ended December 31, 2020, was Rs 2 crore.
During Q3FY21, the profit on the sale of investments was Rs 157 crore. This was on account of the sale of 25,48,750 equity shares of HDFC Life Insurance Company Ltd (HDFC Life). The Corporation’s shareholding in HDFC Life now stands at 49.99 percent.
At 9:55 am, the shares of HDFC Ltd were trading 1.88 percent higher at Rs 2,627.75 apiece on the BSE as compared to a 0.22 percent loss on the benchmark Sensex.
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