HDFC falls on Goldman Sachs`s rating downgrade

Housing Development Finance Corporation (HDFC), leading housing finance provider company in India, fell on Friday after global research firm Goldman Sachs downgraded its rating on stock to 'sell' from 'neutral'.

Goldman also downgraded its target price on the company to Rs 740 from Rs 790. Shares ofthe companyare trading at Rs 804.05, down Rs 11.3, or 1.39% at the Bombay Stock Exchange (BSE) on Friday at 9:28 a.m.The scrip has touched an intra-day high of Rs 812 and low of Rs 804. The total volume of shares traded at the BSE is 3,079.In the earlier session, the shares lost 0.54%, or Rs 4.4, at Rs 815.35. Currently, the stock is trading down 8.84% from its 52-week high of Rs 882 and above 31.66% over the 52-week low of Rs 610.70.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 810.85 4.50 0.55 1 Month 820.75 (5.40) (0.66) 3 Months 778.45 36.90 4.74 6 Months 723.00 92.35 12.77 1 Year 700.35 115.00 16.42 Note: Based on previous day closing price.