HDFC share rises over 4% as lender sees business reverting to pre-covid levels

HDFC share was the top gainer on Sensex today after the mortgage lender said its individual loan business improved in the second quarter, a sign that business was reverting to pre-covid levels.

Share price of HDFC rose 4.98% to Rs 1874 against previous close of Rs 1785.35 on BSE. The share has been trading higher than 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages.

 The share has lost 22.52% since the beginning of this year and fallen 5.42% in one year.

Total 1.46 lakh shares changed hands amounting to turnover of Rs 27.52 crore. Market cap of the firm rose to Rs 3.35 lakh crore on BSE.

HDFC said loan disbursements during the September quarter were at 95% of the level in the corresponding quarter of the previous year. Individual loan approvals grew by 9% year-on-year (y-o-y)and loan applications received jumped by 12% during the same quarter. The housing finance company also said that September saw the highest recovery since the outbreak of the pandemic.

Share Market News Live: Sensex rises 350 points, Nifty at 11,600; HDFC twins, Bajaj Finance top gainers