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    HomeNewsBusinessStocksHousing stocks up 3-4% on higher prirority sector lending

    Housing stocks up 3-4% on higher prirority sector lending

    The stocks of housing Finance companies registered robust gains in the morning trade after the hon’ble finance minister raised the ceiling of home loans to Rs 25 lakh from existing Rs 20 lakh, to be treated under priority sector lendings in the Union Budget 2011.

    February 28, 2011 / 12:08 IST
       
       
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      The stocks of housing finance companies registered robust gains in morning trade after the honourable finance minister Pranab Mukherjee raised the ceiling of home loans to Rs 25 lakh from existing Rs 20 lakh, to be treated under priority sector lendings in the Union Budget 2011. LIC Housing Finance (Rs 191), HDFC (Rs 647)and India Bulls Financial services (Rs 146) all were up by 3-4%.


       


      The real estate housing sector has been going through tough time as the lenders were seen increasing their lending rates in a rising interest rate scenario. The Reserve Bank of India recently made it compulsory for banks to maintain 20% loan to value ratio for all loans above Rs 20 lakh, which was treated as priority sector loan.


       

      The 30-share BSE Sensex was trading at 17,925, up 205 points and the 50-share NSE Nifty rallied 69 points to 5,372.

      first published: Feb 28, 2011 11:54 am

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