Rs 1,45,00,00,00,000 projects: This multibagger company executes an MoU with State Government of Gujarat – know more here!
The stock gave multibagger returns of 120 per cent in just 6 months whereas BSE Sensex Index is up by 13 per cent.
Housing & Urban Development Corporation Ltd (HUDCO) has executed a Memorandum of Understanding with the State Government of Gujarat for an investment of up to Rs 1,45,00,00,00,000 for financing the Housing and Urban Infrastructure projects in the State of Gujarat. The State Government of Gujarat intends for the overall development of the State of Gujarat by implementing various housing and infrastructure projects in the State of Gujarat.
HUDCO is a techno-financial institution, in the business of providing financial assistance for housing and urban development projects in the country, thus catering to the various requirements of all sectors thereof, playing a vital role in strengthening the social and economic fundamentals of India thereby playing a pivotal role in building assets for the Nation.
HUDCO expressed its interest in executing this MoU for an investment of up to Rs 1,45,00,00,00,000 under the Financial Services Sector in the form of financial assistance, as per its objectives and guidelines to the State Government of Gujarat for eligible sector projects through term loan for Infrastructure projects.
Today, shares of HUDCO plunged 2.08 per cent to 125.38 per share with an intraday high of Rs 130.44 and an intraday low of Rs 124.70. The stock made a new 52-week high of Rs 136.70 per share on December 28, 2023, and saw a spurt in volume by more than 5 times on BSE.
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 120 per cent in just 6 months whereas BSE Sensex Index is up by 13 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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