President of India-Backed HUDCO Signs MoU with Yamuna Expressway Industrial Development Authority (YEIDA)
The stock gave multibagger returns of 285.5 per cent in just 1 year whereas BSE Sensex Index is up by 24.8 per cent.
The Housing and Urban Development Corporation Limited (HUDCO) has partnered with the Yamuna Expressway Industrial Development Authority (YEIDA) to boost urban development in Uttar Pradesh. This collaboration formalized through a Memorandum of Understanding (MoU), aims to provide long-term financial support and comprehensive consultancy services for various projects along the Yamuna Expressway.
HUDCO will extend loans to YEIDA to fund projects on both sides of the expressway. Additionally, the partnership will involve HUDCO offering a wide range of consultancy services, including project conceptualization, design, and management. This comprehensive support will help ensure the efficient and effective implementation of YEIDA's urban development initiatives.
On Thursday, shares of Housing and Urban Development Corporation Limited (HUDCO) gained 0.19 per cent to Rs 285.60 per share from its previous closing of Rs 285.05 with an intraday high of Rs 292.60 and an intraday low of Rs 284.50. The stock’s 52-week high is Rs 353.95 per share and its 52-week low is Rs 67.70 per share.
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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 60,000 crore and its maximum stake is owned by the President of India (75 per cent as of June 2024). Additionally, the Life Insurance Corporation Of India (LIC) own an 8.44 per cent stake in the company.
The stock gave multibagger returns of 285.5 per cent in just 1 year whereas BSE Sensex Index is up by 24.8 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.
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