HUDCO gains 5% on receiving Rs 253 cr in dues

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Housing & Urban Development Corporation (HUDCO) shares gained over 5 percent intraday on September 16 after the company received Rs 253 crore in full and final settlement of its dues.

The company has received an amount of Rs 253.83 crore (principal outstanding Rs 81.87 crore) in full and final settlement of its dues in an old default matter since June 2004.

Also, company achieved the level of loan sanctions of Rs 6,793.21 crore and loan releases of Rs 5,160.94 crore, as on August 31, 2019, for the financial year 2019-20.

At 1156 hrs, Housing & Urban Development Corporation was quoting at Rs 39.10, up Rs 1.25, or 3.30 percent on the BSE.

The share touched its 52-week high of Rs 57.25 and its 52-week low of Rs 28.70 on 18 September, 2018 and 23 August, 2019, respectively.

Currently, it is trading 31.88 percent below its 52-week high and 35.89 percent above its 52-week low.