Housing & Urban Development Corporation’s (HUDCO) shares have jumped as much as 9% to an intra-day high of Rs 240.58 after it signed an MoU with NBCC worth Rs 600 crore. While the shares of NBCC rose 5% to Rs 100.50, intra-day.
“HUDCO signed a Memorandum of Understanding (MoU) with NBCC (India) Limited, on 27th November 2024 in New Delhi for the development of a land parcel of 10 acres, owned by HUDCO at NOIDA. HUDCO, on the said land, intends to create an Institutional complex with world-class amenities which is likely to have 8.71 Lakh sq ft. of built-up area with a mix of office space, studio apartments, conference space and retail & common facilities. NBCC will undertake the execution of the said project with the scope of Concept-to-Commissioning,” said the company in an exchange filing.
HUDCO’s performance in Q2
A month back the company reported its financial earnings for the second quarter of FY25. Its consolidated net profit for the period grew by 52% to Rs 689 crore from Rs 452 crore it posted in the same period a year ago. The revenue from operations in the reporting period increased by 35% year-on-year to Rs 2,518 crore, against Rs 1,865 crore in the corresponding period of the previous year.
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HUDCO Vs Nifty 50
The stock of HUDCO has risen almost 15% in the past five trading days. It has increased investors’ wealth by 14% in the last one month. However, the stock has erased almost 7% of wealth in the past six months. The stock delivered a return of 80% from year to date and became a multi-bagger stock in the last one year as it gave 185% of returns.
On the other hand, the benchmark index, Nifty 50, has risen 2.5% in the last five trading days. The index has fallen over a per cent in the last one month and delivered a return to the tune of 5.2% in the past six months. The index has given a return of almost 11% from year to date and more than 21% in the last one year.
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