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Housing finance companies shares gain, HDFC surges 4%

LIC Housing Finance, Gruh Finance, and Dewan Housing Finance are up 4-5% on BSE.

SI Reporter  |  Mumbai 

Shares of companies engaged in housing finance business such as Housing Development Finance Corporation (HDFC), LIC Housing Finance, Gruh Finance, and Dewan Housing Finance are in focus on the bourses on hopes of higher growth.

“According to the National Housing Bank - the regulator for home financiers - the housing finance industry is expected to grow by 18% in the current financial year,” the Business Standard report suggests.

Meanwhile, Chennai-headquartered Repco Home Finance, housing finance subsidiary of Repco Bank, a Government of India owned cooperative bank, is planning to raise up to Rs 270 crore through an initial public offering (IPO) in next week, to support its growth.

Among the individual stocks, LIC Housing Finance and Gruh Finance have rallied almost 5% each at Rs 252 and Rs 217 respectively, followed by HDFC (4% at Rs 814) and Dewan Housing Finance (3.5% at Rs 178) on BSE.

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First Published: Fri, March 08 2013. 15:01 IST