HUDCO soars on inking MoU with Yamuna Expressway Industrial Development Authority
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Housing & Urban Development Corporation is currently trading at Rs. 290.60, up by 5.55 points or 1.95% from its previous closing of Rs. 285.05 on the BSE.
The scrip opened at Rs. 287.85 and has touched a high and low of Rs. 292.60 and Rs. 286.50 respectively. So far 355398 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 353.95 on 12-Jul-2024 and a 52 week low of Rs. 67.70 on 13-Sep-2023.
Last one week high and low of the scrip stood at Rs. 297.75 and Rs. 282.55 respectively. The current market cap of the company is Rs. 58005.05 crore.
The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 14.34% and 10.66% respectively.
Housing and Urban Development Corporation (HUDCO) has signed a Memorandum of Understanding (MoU) with Yamuna Expressway Industrial Development Authority (YEIDA), a Government of Uttar Pradesh Undertaking on August 21, 2024 at New Delhi.
The MoU is a collaboration to extend long-term financial assistance in terms of loan towards various projects on both sides of Yamuna Expressway undertaken by YEIDA, to undertake comprehensive range of Fee-based Consultancy services from concept to commissioning in identified sectors and Project Management Consultancy Services from project conceptualisation to completion, at mutually decided terms.
HUDCO finances social housing and residential real estate through primarily lending to State Governments and their agencies, which, in turn, extend the finance to or utilise the finance for the ultimate individual beneficiaries.
