Dewan Housing up over 4.5%

Dewan Housing Finance Corporation (DHFC) is doing well today, up almost 4.5% at Rs.181, with an intra day high at Rs.190. Its 52-week high stands at Rs.224.90. Volumes are huge at over 93,000 shares changing hands in the morning compared to around 9000 shares over the past two week average.

The stock has jumped up due the good set of numbers it presented for Q4FY13. Operating income rose 142% at Rs.1743 crore and net profit jumped up 110% at Rs.197 crore. NII was up two times at Rs.394 crore. And for FY13, net profit rose 47% at Rs.452 crore on a 68% jump in operating income at Rs.4140 crore.

The performance was helped by a 35% rise in housing loans sanctioned during the year at Rs.17.33 lakh and disbursements rose 47% at Rs.13.35 lakh. Also the company has informed that as stipulated by the National Housing Bank (NHB) the company has divested its shareholding in Aadhar Housing Finance, bringing down the stake to 14.90% from the earlier 50%.