Housing financiers on a roll; Can Fin hits record high, Repco Home gains 8%

CARE Ratings expects collections and asset quality for HFCs to improve in the second half as the economy improves

Shares of housing finance companies (HFCs) outperformed on the bourses on Thursday with stocks such as Can Fin Homes and Repco Home Finance ralling up to 6 per cent on the BSE inthe intra-day trade. Investors flocked the counters on expectations that a pick up in real estate demand will result in higher earnings growth for these companies this festive season.

Besides, several lenders have already announced interest rate cut on home loans, which added to the buoyancy.

Individually, Repco Home Finance, Aavas Financiers, Can Fin Homes, Indiabulls Housing Finance, LIC Housing Finance and PNB Housing Finance were