HDFC to raise money via bonds; shares gain 1%

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Moneycontrol BureauShares of Housing Development Finance Corporation (HDFC) gained 1 percent intraday Wednesday as it is going to raise money via issue of bonds to overseas investors.The company is going to issue rupee denominated bonds up to Rs 500 crore to overseas investors, subject to market conditions. The issue will open on August 31 and closes on September 1, 2016.The said bonds will get listed on London Stock Exchange.According to Sudarshan Sukhani of s2analytics.com, "The participation of HDFC twins - HDFC and HDFC Bank in the Nifty rally would be significant and both are investing ideas even at these current level."At 09:40 hrs Housing Development Finance Corporation was quoting at Rs 1,402.90, up Rs 10.60, or 0.76 percent on the BSE.Posted by Rakesh Patil