HDFC stock up almost 2% as India’s largest mortgage finance company is set to roll out its Q1 CY13 numbers on Wednesday.
Mortgage leader Housing Development Finance Corporation (HDFC) will announce its Q4 FY13 results tomorrow. The NBFC is expected to report profit after tax (PAT) of Rs. 14.63 billion—a rise of 10.1% in Q4 FY13 compared to Q4 FY12, according to IIFL.
NII (net interest income)—difference between interest earned and paid out—is expected to grow at 7.7% to Rs. 18.1 billion in Q4 FY13 compared with Q4 FY12. On the other hand, NII is forecasted to rise at 22.7% in Q4 FY13 against Q3 FY13, the brokerage house added.
The spread of the NBFC is expected to be stable at 2.3% in Q4 FY13 against Q4 FY12, IIFL further said.
At 11:59 am, HDFC scrip was up by 1.9% at Rs. 870 up by Rs. 16 at the National Stock Exchange (NSE) Wednesday. The stock touched a high of Rs. 873.65 and a low of Rs.852. Total volume traded at the counter stands at 7.6lakhs.
India Infoline Research Team / 15:28, Mar 13, 2015
Markets are now reinforcing the perception of an early interest rate hike by US Federal Reserve, with consensus calling for the hike taking place in June, when compared with the prior expectations of a hike in September.