NBCC, HUDCO shares their sharp upward on February 2 after FM Nirmala Sitharaman in her Budget speech announced that 2 crore more houses will be taken up in the next five years under PM Awas Yojana (Grameen).
Rally in these two said counters came after Union Finance Minister Nirmala Sitharaman, in her Interim Budget 2024 speech, mentioned that the Centre will launch a scheme to help deserving sections of the middle class "living in rented houses, or slums, or chawls and unauthorized colonies" to buy or build their own houses.
HUDCO shares surged 20 per cent to scale their one-year high of Rs 207. At this price, the multibagger stock has rallied 411.11 per cent from its 52-week high of Rs 40.50, a level seen on March 29 last year.
HUDCO share price: The stock surged 18.27 per cent to hit a one-year high of Rs 162.80. It eventually settled 15.33 per cent higher at Rs 158.75. The multibagger scrip has zoomed more than 215 per cent in a year.
State-owned HUDCO has entered into a pact with the Gujarat government to invest up to Rs 14,500 crore for financing of housing and urban infrastructure projects.