HUDCO's Stock Soars on Boost to Housing Infrastructure Projects
Substantial Investment Expected to Stimulate Growth
Key Points:
*- NBFC - Housing ISIN code: As on 22 Apr 2024 1558
- HUDCO share price target 2024: BOOST of Rs 14500 cr of housing infra projects stock price rises on BSE NSE today
- Shares of Housing Urban Development Corporation Ltd (HUDCO) surged to a record high on Friday
Shares of Housing and Urban Development Corporation Ltd (HUDCO) witnessed a significant upward surge on Friday, April 22, reaching a record high of Rs 233.85 with a gain of approximately 15% during the day's trading session. The stock's strong performance on the BSE and NSE was primarily driven by the announcement of a substantial investment boost to the housing infrastructure sector.
As per the latest available information, the National Housing Bank (NHB) has approved a project proposal to provide financial assistance of Rs 14500 crore to HUDCO for financing various housing projects, including those in the affordable housing segment. This substantial investment is expected to provide a significant impetus to the growth of the housing infrastructure sector in India.
HUDCO, a government-owned NBFC focused on housing finance, is well-positioned to benefit from the increased funding for housing projects. The company has a strong track record in financing a wide range of housing projects, including those for economically weaker sections and low-income groups. With the additional funding from NHB, HUDCO is expected to increase its lending activities and further contribute to the government's ambitious housing targets.
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