HUDCO, on June 26, reported a whopping 86.6% YoY growth in consolidated profit at Rs 440.9 crore for the quarter ended March 2020
The company's total income rose to Rs 1,900.40 crore in the March 2020 quarter from Rs 1,493.35 crore a year ago, according to a regulatory filing.
"A meeting of board of directors of the company is scheduled to be held on Friday wherein the matter relating to raising of funds through issue of bonds/debentures (including tax-free bonds, capital gain bonds up to Rs 28,000 crore will be considered," Hudco said in a filing to BSE.
The state government has announced it will distribute house sites and housing units to over 25 lakh beneficiaries on Telugu New Year's Day Ugadi on March 25.
"The Ministry of Housing and Urban Affairs has conveyed the approval of the competent authority to assign the current charge of the post of Chairman and Managing Director, Hudco, to M Nagaraj for a period of three months with immediate effect or until further orders whichever is earlier, the state-owned firm said in a filing to BSE.
The share touched its 52-week high Rs 47.70 and 52-week low Rs 28.70 on 06 March, 2019 and 23 August, 2019, respectively.
The time has come to further open up India’s bond markets to foreign investors
The tribunal also directed Bakshi to file a report on the development by filing an affidavit in the matter before it.
HUDCO claims that it had given Rs 60 crore loan to Bakshi for his hospitality company, Ascot Hotels Pvt Ltd and the loan account turned into NPA (non performing asset).
The MTN programme has been assigned Baa2 by Moody's and 'BBB- by Fitch Ratings.
The agency assigned a baseline credit assessment (BCA) of ba1 to the company.
The Left Front, which ruled Tripura for 25 years since 1993, was defeated by the BJP and IPFT combine in the election this year.
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The proposal is to dilute the stake through the Offer for Sale (OFS) route.
Its net profit stood at Rs 182.18 crore in the year-ago period, the company said in a BSE filing.
Its net profit stood at Rs 205.53 crore in the year-ago period, the company said in a filing to the BSE.
Mitessh Thakkar of miteshthacker.com is of the view that one can buy Hudco and sell India Cements.
Mitessh Thakkar of mitesshthakkar.com is of the view that one can buy Asian Paints, Gruh Finance, HUDCO and Nalco and sell Bharat Forge.
The RBI's decision to cut rates by 25 bps was mostly discounted in prices which led to sharp run up in prices especially of financials.
Sudarshan Sukhani of s2analytics.com advises buying Bharti Infratel, NBCC and HUDCO and advises selling Raymond.