Shares of mortgage lenders gained 2-4 per cent as National Housing Bank has raised the refinance limit.
National Housing Bank will raise its refinance limit to Rs 30,000 crore ($4.06 bln) for July 2018-June 2019 to make funds available to housing finance companies, the Finance Ministry had said on Monday.
The Ministry said that the move to raise refinance limit is a credit flow to housing finance cos and other institutions.
Shares of Dewan Housing Finance Corporation Ltd , Edelweiss Financial Services Ltd and JMFinancial Ltd up about 4 per cent each. Shares of IIFL Holdings Ltd and Housing Development Finance Corp rose about two per cent each. ($1 = 73.9100 Indian rupees)