HUDCO News

Appointment of CFO

Indian equities soar to all-time highs with Nifty breaking above 24,000 levels, supported by the private banking sector. Sectors like IT and healthcare offer growth opportunities, making a stock-specific approach advisable amidst the current market conditions.

Experts suggest buying opportunities in stocks like Indus Tower, ICICI Bank, Grasim Industries, and Kotak Mahindra Bank for short-term traders, as per recommendations on ETNow.

Intimation of closure of trading window for the quarter ending 30th June, 2024.

Disclosure regarding participation in PSU Investor Conference

Investors initially skeptical of PSU stocks after BJP's election setback on June 4 have seen a reversal. PSU stocks, down 16% post-election, now lead a bull run akin to Modi's '400 paar' ambition. Mazagon Dock's 48% rise drove the BSE PSU index cap up by Rs 7.24 lakh crore in 10 sessions. RCF surged 33%, Cochin Shipyard 24.5%, HUDCO and MMTC 23%, with HAL, BEL, and BHEL also gaining.

Intimation regarding participation by Company in PSU Investor Conference on 20.06.2024.

The benchmark indices closed nearly unchanged on Tuesday, following a record-breaking rally, as investors opted to stay on the sidelines, awaiting additional triggers.

Shares of housing finance and infrastructure project firms surged after the NDA government's decision to assist 3 crore households with house construction under Pradhan Mantri Awas Yojana, leading to a boost in shares of companies like Home First Finance and Aavas Financiers.

The NSE Nifty index was trading 74.35 points up at 23333.55

HUDCO has signed MoU with India Infrastructure Finance Company Limited on 06.06.2024 at New Delhi

PSU stocks like Cochin Shipyard and Bharat Dynamics fell by 10% following the BSE PSU index's 4% drop post Lok Sabha election results. Analysts remain positive on PSUs as they see government entities having an advantage.

Shares of companies like PFC, REC Ltd, and Adani Ports plummeted in today's market turmoil due to poor Lok Sabha election results for the Narendra Modi-led NDA government.

Right from perennial under-performers like oil marketing and refining companies to PSU banks. Literally every stock which has the tag of “PSU” stock has seen a re-rating in the last two years. Now that the exit polls are predicting what the street has been looking for, that is continuity in the policy making framework, there is a high probability that there will be another round of re-rating of PSU stocks. So, continued policy and continued re-rating. Like the earlier re-rating, this time also, some sectors and stocks in the PSU space will outperform others. A company which is going to be providing finance for the expansion of the solar energy network which is the next focus area of the government. The overall demand runway for some of the sectors is longer. This essentially means that while every PSU is likely to see a push, there are a select few which are likely to see more tailwinds of business growth and valuation expansion.

Cessation of Shri D Guhan as Director (Finance) & CFO, HUDCO and entrustment of Additional Charge of Director (Finance) to Chairman & Managing Director, HUDCO

Cessation of Shri D Guhan as Director (Finance) & CFO, HUDCO and entrustment of Additional Charge of Director (Finance) to Chairman & Managing Director, HUDCO

Transcript of Investors'' Audio Conference Call held on 27th May, 2024.

HUDCO, a financial institution, has surged over 300% in the past year, with chart patterns indicating potential for further growth. Short-term traders are advised to buy the stock for a target price of Rs 295 based on expert recommendations. The stock hit a record high of Rs 277 on May 23, 2024 and is trading well above crucial moving averages.

In an election season, there are bound to be times when one or the other narrative may make one question about whether one should sell the stocks. The underlying reason would be fear of losing the gains on which one is sitting. Especially when it comes to sectors like defence, railways and others which have seen a strong re-rating and siting with big gains and already there has been skepticism about their stock price moving ahead of time. Now let's look at the issue in two ways, first is whether the fundamentals of the sector are on a strong foot and business is fine or not. Second, how to hedge the exposure so that one is not forced to sell due to narrative, because the fact is that a continuation in policy push means that the companies have just started their journey. While defence PSUs are well known, there are other private sector players, whose lifeline is dependent on defence expenditure and in the last few years they have also done well, both on the street and in terms of real business. So, it is better that one should hedge and stay with them and not get jittery because of one or the other narrative which will keep hitting the street till 4th June.

Annual Secretarial Compliance Report for the FY 2023-24

Disclosure of link for audio recording available on the website is submitted.

Newspaper Publication of Financial Results

The company's total income for the quarter was 18% higher at Rs 2,194 crore against Rs 1,862 crore. Its board recommended a final dividend of Rs 2.65 per equity share on the face value of Rs10 each for the financial year 2023-24.

Investor Presentation

​In the last two years, it is a well known fact that every PSU stock has been re-rated by the street, right from perennial under-performers like oil marketing and refining oil companies to PSU banks. But if one looks a bit deeper there are some which have been re-rated more than others. The reason, these are PSUs which are from the sectors where the government has clearly decided are its priority areas and there has been a policy push for these sectors. A company which is going to be providing finance for the expansion of the solar energy network which is the next focus of the government. The overall demand runway for these sectors is longer which means overall growth will be higher when confirmation of policy continuity comes. Also they are in business where it would be difficult for the private sector to compete. Now because it is the policy push which matters, the continuity of tailwinds of higher government spending, will push them for another round of re-rating on the result day.

Disclosure of Related Party Transaction under Regulation 23 (9) SEBI (LODR) 2015 for the half year ended 31.03.2024

Board approved Audited Financial Results for FY 2023-24

Board recommended Final Dividend @ Rs. 2.65 per equity share, subject to the approval of shareholders in the ensuing AGM.

Board Meeting approved Audited Financial Results for FY 2023-24 and Recommends Final Dividend

An audio Conference call of management of HUDCO with Investors/Analysts on 27.05.2024 at 16:00 hrs to discuss financial results for the quarter & year ended 31st March, 2024.

Prior intimation of Board Meeting scheduled to be held on 24.05.2024, to recommend final dividend for the FY 2023-24, if any, subject to the approval of shareholders in ensuing Annual General Meeting.

Trading window which was closed from 1st April, 2024 shall remain closed until 26th May, 2024.

Housing & Urban Development Corporation Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 24/05/2024 ,inter alia, to consider and approve (a) Intimation regarding holding of Meeting of the Board of Directors to consider:- Audited Financial Statements (Standalone and Consolidated) for quarter & year ended 31st March, 2024 - Recommendation of final dividend for the financial year 2023-24, if any (b) Intimation regarding Trading Window.

HUDCO has signed MOU with Surat Integrated Transportation Development Corporation Limited on 9th May, 2024 at New Delhi.

Compliance Certificate for year ended 31.03.2024 with respect to Chapter XIV- Centralized database for Corporate bonds/debentures (SEBI Operating Circular)

Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015 regarding Credit Rating by CARE Ratings Limited.

The likely move comes on the back of a strong rally over the last one year. BHEL, JSW and NHPC have delivered multibagger returns of 239%, 135% and 110%, respectively. Zydus, Hero Moto, Samvardhana and Bosh have yielded between 85 and 48% returns during the period.

Credit Rating by India Ratings & Research Private Limited dated 26-04-2024

The NSE Nifty index closed 150.4 points down at 22419.95

The NSE Nifty index closed 150.4 points down at 22419.95