HDFC Gains On Completing Masala Bond Issue

Shares of India’s first retail housing finance company, HDFC gained on the bourses as the company on last Friday announced that it has completed the issuance of masala bonds aggregating Rs 3000 crore.

The company in a filling to the bourses said that the issue size is Rs 3000 crore with a yield of 7.35% per annum which will be payable semi-annually. The maturity date of the bonds will be April, 2020.

The firm in Q3 December 2016 registered net profit rise of 11.9% to Rs 1701.21 crore, and the total income stood at Rs 8146.61 crore, witnessing a growth of 11.9%, year-on-year basis.

The stock has outperformed the BSE Sensex and BSE Bankex in a period of one year and has delivered over 35% returns over the same time span.

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About Suhani Varma

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