In its latest research report, Nirmal Bang, an equity research firm said that Dewan Housing Finance Corporation can give good returns in the short term.

According to Nirmal Bang Research, interested traders can buy the stock with a strict stop loss of Rs 133, which is also the 50-day moving average.

The report also stated that, if the counter is successful to maintain above the previous top of 165made on 30th June 09, then it will hit a target of Rs 190.

Today (Sep 30), the shares of the company opened at Rs 148.80 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 164.70 and a low of Rs 37.05 on BSE. Current EPS and P/E of the stock stood at 12.61 & 11.56 respectively.

On Sep 23, DHFL has lifted up Rs 250 crore via private placement of arrears, and decided to lift an additional Rs 500 crore via private placement of NCDs in the existing fiscal.

In July 2009, the company had Rs 225 crore via QIP of equity shares and another Rs 75 crore via a preferential issue to the promoter group.

DHFL also decided to raise around Rs 1,000 crore in August through issue of non-convertible debentures to institutional and retail investors but suspend the plan since it felt it would not be capable of lifting the funds at the said rate.

DHFL, on Sep 16, has declared that the company's directors have allotted 26,704 fully paid up equity shares worth Rs 10 per share to employees in terms of ESOS.

The said equity shares rank at an equal rate in all respects with the subsisting company's equity shares.