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HDFC stock up almost 2% as Indias 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 billiona rise of 10.1% in Q4 FY13 compared to Q4 FY12, according to IIFL.
NII (net interest income)difference between interest earned and paid outis 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 / 08:49, Aug 21, 2014
The outlook is a flat open. Global indices are up. The minutes from the Federal Reserve's July meeting indicate that the Fed is in no hurry to raise interest rates. The Dow added 0.35% while S&P was up 0.25%. Nasdaq ended marginally lower. Asian indices are mixed with Nikkei up almost a percent while Hong Kong's Hang Seng index is lower. South Korea's Kospi index and China's Shanghai index are also in the red.