Indiabulls Housing reduces home loan rates by 15 bps to 8.35%

India Infoline News Service | Mumbai | May 17, 2017 14:06 IST

Following the footsteps of other major lenders, Indiabulls Housing Finance on Wednesday announced that that it has slashed home loan rates by 15 basis points to 8.35%.

Indiabulls Housing Finance
Following the footsteps of other major lenders, Indiabulls Housing Finance on Wednesday announced that that it has slashed home loan rates by 15 basis points to 8.35%.
 
Taking cues from State Bank of India, the country’s one of the largest lender, ICICI Bank had also reduced the home loan rates for the loans up to Rs 30 lakh or the loans which are specifically classified under the category of affordable housing category by around 30 basis points, reported a leading news portal.
 
After the reduction in the interest rates, the women borrowers would pay 8.35% while the salaried borrowers would pay 8.4% interest on the home loans of up to Rs 30 lakh.
 
Another prominent private sector bank, Housing and Development Finance Corporation (HDFC) also reduced its interest rate on loans up to Rs 30 lakh by 15 basis points, reported a leading news portal.
 
The banks have been cutting the interest rates to take the advantage of government’s affordable housing program. The affordable housing refers to those housing units which are affordable to that section of the society whose income stands below the median household income.

Stock view:
 
Indiabulls Housing Finance Ltd is currently trading at Rs 1083.2, up by Rs 30.7 or 2.92% from its previous closing of Rs 1052.5 on the BSE.
 
The scrip opened at Rs 1054.85 and has touched a high and low of Rs 1088.75 and Rs 1052 respectively. So far 1615079(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 44658.92 crore.
 
The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 1135 on 08-May-2017 and a 52 week low of Rs 616.05 on 27-Dec-2016. Last one week high and low of the scrip stood at Rs 1092.75 and Rs 1040.55 respectively.
 
The promoters holding in the company stood at 23.64 % while Institutions and Non-Institutions held 66.42 % and 9.19 % respectively.
 
The stock is currently trading above its 50 DMA.


***Note: This is a NSE Chart

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

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