Mortgage lender Housing Development Finance (HDFC) today reported its March quarter results during market hours.
The stock, touted to be one of India's favourite, has been under immense pressure of late due to various reasons.
Here are the five important takeaways from HDFC's quarterly results:
At present, the stock of HDFC is trading 1% higher at Rs 2,256 on the BSE.
Be it 1 month, 3 months or a year, HDFC shares have a negative performance over all these time periods.
Both HDFC and HDFC Bank have been facing a lot of heat owing to their merger news.
Also, both the companies are FII favourite stocks so heavy selling by FIIs affected their share price.
Last week, the company's Chairman Deepak Parekh said in an interview that lack of communication by the management on the benefits of the merger have led to the fall in the share prices of HDFC and HDFC Bank.
HDFC is the largest, among housing finance providers in India. It has also earned the reputation of a rock-solid financial institution. Not only in India but the world over.
Despite growing competition from banks in the home loan segment, HDFC remains firmly in place to benefit from the government's strong focus on affordable housing.
To know more about the company, check out HDFC's financial factsheet and its latest quarterly results.
For a sector overview, read our finance sector report.
You can also compare HDFC with its peers.
Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. Learn more about our recommendation services here...
Yash Vora is a financial writer with the Microcap Millionaires team at Equitymaster. He has followed the stock markets right from his early college days. So, Yash has a keen eye for the big market movers. His clear and crisp writeups offer sharp insights on market moving stocks, fund flows, economic data and IPOs. When not looking at stocks, Yash loves a game of table tennis or chess.
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