Introduction:
Memorandum of Understanding (MoU) has been signed between a leading urban development corporation and a prominent infrastructure company for developing a 10-acre land parcel in Noida, aiming to create a world-class institutional complex with diverse facilities.
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Share price movement of HUDCO:
On November 28, 2024, HUDCO opened at ₹223.40, up 1.26% from ₹220.60. The stock reached a high of ₹240.50 (8.99%) and a low of ₹222.90. By 11:45 AM, it traded at ₹232.00, a 5.17% increase, with a market cap of ₹46,474.11 crore.
HUDCO signs MoU with NBCC:
Housing and Urban Development Corporation Limited (HUDCO) has signed a Memorandum of Understanding (MoU) with NBCC (India) Limited for the development of a 10-acre land parcel in Noida. The signing ceremony took place on November 27, 2024, in New Delhi.
Under the MoU, HUDCO plans to develop an institutional complex on the Noida land, covering 8.71 lakh sq ft. The project will include a mix of office spaces, studio apartments, conference spaces, and retail facilities, aiming to provide world-class amenities.
NBCC will manage the execution of the project from concept to commissioning. The MoU was signed by senior executives from both companies, including Shri S Thangaraju of HUDCO and Shri A.K. Goyal of NBCC. The project is expected to boost infrastructure development in Noida.
Recent news on HUDCO:
As of Nov 24, 2024, state-owned Housing and Urban Development Corporation (HUDCO) aims to triple its loan book to ₹3 lakh crore by 2030. The company focuses on infrastructure financing with state-specific priorities and innovative financial models.
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Stock performance of HUDCO for Period of 1 week, 6 months and 1 year:
HUDCO has seen a notable 9.56% return over the past week, reflecting strong recent performance. However, it experienced a 19.5% decline over the last six months, despite an impressive 171% return over the past year.
Shareholding pattern of HUDCO:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 75% | 75% | 75% |
| FII | 2.30% | 2.70% | 1.90% |
| DII | 9.10% | 11.70% | 11.40% |
| Public | 13.60% | 10.70% | 11.70% |
About HUDCO:
Housing and Urban Development Corporation (NSE: HUDCO) is a PSU focused on infrastructure financing and housing development. It supports urban growth by providing loans for housing, urban infrastructure, and allied sectors, aiming for sustainable development.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
