Budget 2024: Stocks Active as FM Sitharaman Unveils 2 Crore New Homes Initiative

Housing & Urban Development Corporation Ltd. (HUDCO) witnessed a surge in its shares following Finance Minister Nirmala Sitharaman’s commitment to constructing 2 crore new houses over the next five years in her interim Budget 2024 speech.

HUDCO, a state-run company that offers financial assistance for housing and urban infrastructure development projects, experienced a notable boost in its stock as the Finance Minister also announced the launch of a new housing scheme specifically targeting India’s middle-class population.

As a result of these developments, HUDCO shares are currently trading 7.4% higher at ₹185.10, marking a record high. The stock has demonstrated a remarkable ascent, surging nearly 5 times from its 52-week low of ₹40.4. It’s worth noting that the government presently holds a substantial 75% stake in HUDCO.

 

HUDCO shares overview

 

Market Cap ₹ 36,673 Cr.
Current Price ₹ 183
High / Low ₹ 189 / ₹ 40.4
Stock P/E 20.5
Book Value ₹ 78.5
Dividend Yield 2.09 %
ROCE 8.81 %
ROE 11.4 %
Face Value ₹ 10.0

 

Another company in the limelight post this significant announcement is NBCC, a firm specializing in providing construction and engineering services for residential, commercial, and institutional buildings. In response to the news, NBCC shares have surged by 5.5%, reaching ₹136.7 per share.

The positive market reaction reflects investor optimism in the housing and infrastructure sectors, driven by the government’s commitment to significant housing initiatives and schemes. Both HUDCO and NBCC, playing vital roles in the development landscape, are witnessing heightened investor interest amid these promising prospects.

 

NBCC SHARE OVERVIEW

 

Market Cap ₹ 23,976 Cr.
Current Price ₹ 133
High / Low ₹ 139 / ₹ 31.0
Stock P/E 63.7
Book Value ₹ 10.9
Dividend Yield 0.39 %
ROCE 26.4 %
ROE 19.0 %
Face Value ₹ 1.00

 

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Disclaimer-The content presented here is intended solely for analytical and educational purposes. If you consider investing, it is strongly advised to conduct your own thorough research. We do not endorse or recommend any specific stocks or initial public offerings (IPOs).

 

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