Select financial shares gain; Bajaj Finserv hits record high

GRUH Finance, DHFL, GIC Housing and LIC Housing were up in the range of 1% to 3%.

Shares of select companies engaged in financial business mainly housing finance companies (HFCs) were in focus after the market regulator Securities Exchange Board of India (Sebi) raised mutual funds' investment exposure limits in the HFCs.

GRUH Finance, Dewan Housing Finance Limited (DHFL), GIC Housing Finance and LIC Housing from the HFCs were up in the range of 1% to 3%.

Meanwhile, Jammu & Kashmir Bank, DCB Bank, Bajaj Finserv, Dhanlaxmi Bank and Edelweiss Financial Services from the S&P BSE Finance index were up between 3% and 5%.

Bajaj Finserv was up 3.4% at Rs 3,879, hitting a record high of Rs 3,900 on the BSE in intra-day trade.

The capital market regulator, Sebi, has increased the additional permissible investment limit of debt mutual funds to invest in corporate bonds, sold by HFCs.

Debt mutual funds were allowed to have an exposure of only up to 10% to HFCs. This has been increased to 15% with the immediate effect subject to certain conditions. CLICK HERE TO READ FULL REPORT.

COMPANY	LATEST	PREV CLOSE	GAIN(%)
BAJAJ FINSERV	3868.05	3749.75	3.2
EDELWEISS.FIN.	131.90	128.05	3.0
DEWAN HSG. FIN.	325.85	317.35	2.7
GRUH FINANCE	377.80	368.15	2.6
BHARAT FINANCIAL	877.25	862.65	1.7
UJJIVAN FIN.SER.	437.85	430.70	1.7
MOTIL.OSWAL.FIN.	651.45	641.50	1.6
BAJAJ HOLDINGS	2061.15	2030.55	1.5
GIC HOUSING FIN	319.50	315.90	1.1
MUTHOOT FINANCE	353.00	349.55	1.0
LIC HOUSING FIN.	565.00	559.55	1.0