Shares of Repco Home Finance hit new highs. Know why

Shares of Repco Home Finance Ltd., a mid-sized mortgage loans provider, hit fresh highs after the company reported a smart rise in its quarterly earnings.

Repco Home said its first quarter Net Profit rose 22 percent to 30.2 crore rupees compared with 24.8 crore rupees in the same quarter a year ago. Sales during April-June gained 28 percent to 200 crore rupees from 156 crore rupees in the year ago period.

Repco rose 15 rupees, or 2 percent, to 753.50 rupees, a record high on the National Stock Exchange, where 2.13 lakh shares were traded by 12:40 pm compared with the 5-day average of 1.12 lakh shares.

Repco's market capitalisation has jumped 72 percent in the past one year to 4,677 crore rupees as investors bought into a growing appetite for home loans in middle income Indians.

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