Rs 84,424 loan portfolio: This multibagger company executes an MoU with State Electricity Distribution Company Ltd (Mahavitaran)!
The stock gave multibagger returns of 328.66 per cent in just a year whereas BSE Sensex Index is up by 22.82 per cent.
Housing and Urban Development Corporation Ltd (HUDCO) has signed a Memorandum of Understanding (MoU) with Maharashtra State Electricity Distribution Company Ltd (Mahavitaran), on March 7th, 2024 at Mumbai, for providing of credit of up to Rs 5000 Crore for the largest feeder level solarization scheme in India under PM-KUSUM Scheme. The MoU was signed by Shri Sanjay Kulshrestha (CMD, HUDCO) and Shri Lokesh Chandra, IAS (CMD, Mahavitaran) in the presence of Shri Devendra Fadnavis, Hon'ble Deputy Chief Minister, Maharashtra.
Earlier, Housing and Urban Development Corporation Limited (HUDCO) and NBCC (India) Limited had Memorandum of Understandings on February 21, 2024 for reinforcing cooperation and collaboration to leverage respective strength for the effective implementation of Consultancy Services, Asset Monetization activities, and Corporate Social Responsibility (CSR) activities.
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On Thursday, shares of HUDCO zoomed 3.34 per cent to 202 per share with an intraday high of Rs 205 and an intraday low of Rs 196.60. The stock made a new 52-week high of Rs 226 per share on December 28, 2023. Company has been maintaining a healthy dividend payout of 37.9 per cent.
Housing and Urban Development Corporation Limited provides financial assistance for housing and urban infrastructure development projects. The Company offers loans for housing projects such as urban and rural housing, community toilets, water supply, roads and transports, and power projects. Housing and Urban Development serves customers in India. The company has a market cap of over Rs 25,000 crore and its maximum stake is owned by the Government of India.
The stock gave multibagger returns of 328.66 per cent in just a year whereas BSE Sensex Index is up by 22.82 per cent. Investors should keep an eye on this Mid-Cap PSU stock.
Disclaimer: The article is for informational purposes only and not investment advice.