Today, the benchmark at Bombay Stock Exchange has gained 80 points whereas the Foreign Institutional Investors (FIIs) were observed to bought shares worth nearly Rs 2,953 crore in three sessions since June 23, notified the analysts.

For the three month period ended December 2010, HDFC's net profit grew by 33% to Rs 891 crore as against Rs 671 crore during the same period of 2009.

The company recorded this growth on account of increase in disbursements as well as sturdy returns from sale of investments.

For the quarter ended June 30, Housing finance major HDFC Ltd has registered an increase of 23% in its net profit, which stood at Rs 695 crore as against Rs 565 crore during the same period of 2009.

Mr. Keki Mistry, CEO and Vice-Chairman, stated that the increase in profits was owing to augmentation in interest income as HDFC had nil profit from sale of investments in the just-ended period.

Home loan major HDFC aims to raise Rs 4,300 crore from the issue of Non-Convertible Debentures (NCDs) for that it has begun institutional placement of debt securities on Monday.

According to investment banking sources, HDFC’s QIP is expected to close tomorrow. The amount to be raised via NCDs would be about Rs 4,000 crore, they added.

India’s Housing Development Finance Corp (HDFC) has notified that it has slashed its retail lending rates by 50 basis points, effective Dec. 22.

According to sources, rates on fresh home loans of up to Rs 2 million ($42,370) will plunge to 10.25 percent, while those on bigger loans will attract a rate of 11.25%.