Indiabulls Housing Finance increases its lending rates by 40 basis points; Stock soars 2%

13 May 2022 , 09:52 AM

Indiabulls Housing Finance Ltd. stocks rally in the market after announcement of increasing its lending rates.

(IBHFL) revises its Reference Rates on Housing Loans and Loans Against Property by 40 basis points. The new rates will be applicable for existing borrowers from June 01, 2022 onwards, said the finance company in a regulatory filing on Thursday.

At around 9:54 AM on Friday, Indiabulls Housing Finance was trading at Rs121.80 apiece up by Rs2.45 or 2.05% from its previous closing of Rs119.35 apiece on the BSE.