Dewan Housing Finance pares some gains after scaling record high

Last Updated: Wed, Oct 19, 2016 13:07 hrs
Real Estate (Reuters image)

Dewan Housing Finance soared to a record high of Rs 334.70 on BSE  (Rs 334.80 on NSE), extending recent gains. The stock is currently up 2.5% at Rs 332.

Rating upgrade of the stock by Nomura and the company CMD's remarks that outlook for the housing finance firm's second half prospects is quite bright are driving the stock up.

The company posted a net profit of Rs 232.61 crore for the quarter ended September 2016. That was up 28.8% over the net profit it had reported for the corresponding quarter last year.

The company said its loan sanctions and disbursements rose more than 10% and 32%, respectively in the second half of the current financial year, compared to the year-ago period.

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