Dewan Housing Finance Corporation Stock Increased By 4.9 Percent

Dewan Housing Finance Corporation Stock Increased By 4.9 PercentDHFL stock increased by 4.9 percent on Monday to its 52week higher of Rs 326. The firm have obtained investors’ confidence after its strong performance in the Sept 2010 quarter.

Dewan Housing Finance Corporation mainly targets financing the housing requirements of the middle and lower-revenue segments. While in the Sept quarter, its net gain increased around 1.5 times from the last year. The rise is partly due to a one-time gain of Rs 29 cr on the selling of investments. However more good is the fact that the net gain increase was a robust 71percent even after not including the effect of the extraordinary item.

The development was backed by 71percent development in disbursements on a yr-on-yr basis. Even though the firm has revealed similar development in the earlier quarters also, these times the development on a sequential basis has been considerable. Disbursements increased by 31per cent quarter-on-quaer in the Sept coint.

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