Housing Development and Infrastructure (HDIL) today, touched Rs.31, before closing at Rs.29.80. HDIL earelier said that its promoters had taken a mortgage loan from Indiabulls Housing Finance (IHFL) for their personal use. The promoters took the loan against their property in Goa and interest on the said loan was not paid. The promoters also clarified that it will clear the dues shortly and matter is being sorted out with the lenders. Hence, I think the scrip would soon cross Rs.37-38, in the coming days.Today DLF Ltd today touched Rs.139.65, before closing down at Rs.138.
NMDC Ltd today moved to Rs.102.90, before cooling down a bit. NMDC came out with better than expected results for Q1FY14. During the June quarter, NMDC produced 6.9 million tonnes (mt) of iron ore. Though growth in output was flat, sales grew five per cent to 7.3 mt during the quarter. Higher sales volume partly helped offset the pressure on realisation front, which compared to last year’s Rs.4,140 per tonne fell by five per cent to Rs.3,954 per tonne in the June 2013 quarter. Globally, iron ore prices have fallen from about $130 a tonne last year to $120 in March 2013 quarter and further to $110 currently.However, the market liked the fact that NMDC’s realisations were up compared to Rs 3,889 a tonne for the March quarter. Analysts were expecting a deeper cut in revenues, which came at Rs 2,869 crore (up a per cent) and were better than expectations of Rs 2,675 crore. Similarly, though operating profit margins fell 1,471 basis points to 66.3 per cent on a year-on-year basis, the same were better than Street estimates of 63.9 per cent; and higher than 54.6 per cent in March 2013 quarter. CLICK HERE.