HUDCO shares gain as board to consider interim dividend on March 10

Shares of Housing & Urban Development Corporation Ltd (HUDCO) rose 2% in the afternoon session on Monday after the firm said its board would meet on March 10 to consider declaration of second interim dividend for the financial year 2024-25. HUDCO shares rose 1.87% to Rs 168.20 on BSE against the previous close of Rs 165.10 on BSE. HUDCO saw a turnover of Rs 5.94 crore on Monday as 3.61 lakh shares changed hands on BSE. HUDCO’s market cap rose to Rs 33,331 crore.

The stock has lost 15.11% in last one year and fallen 30.04% since the beginning of this year. 

"We wish to inform that the meeting of Board of Directors is scheduled to be held on Monday, 10th March, 2025, inter-alia to consider declaration of second interim dividend for the Financial Year 2024-25," said HUDCO in a communication to BSE. 

The company also announced record date for determining the entitlement of shareholders for the payment of second interim dividend on Friday, March 14, 2025, subject to approval of Board of Directors.

The stock has fallen 53% from its 52-week high of Rs 353.95 on July 12, 2024. It fell to a 52-week low of Rs 152.65 on March 14, 2024. The stock has a beta of 2, indicating very high volatility in a year. 

In terms of technicals, the relative strength index (RSI) of HUDCO stands at 27.5, signaling it's trading in the oversold territory. 

HUDCO stock trades lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages. 

HUDCO provides long-term finance for construction of houses for residential purposes and undertakes housing and urban development programmes in the country.