HOUSING DEVELOPMENT FINANCE CORP
Whiteland Corp to invest Rs 5,600cr on housing project in Gurugram; partners Marriott for management
Realty firm Whiteland Corporation is set to invest Rs 5,600 crore in a luxury housing project in Gurugram in partnership with Marriott International to bring 'Westin Residences'. The project will feature 1,600-1,800 branded homes with a starting price of Rs 5 crore per unit. The investment will be primarily funded through internal accruals, with the company developing a total of 60 lakh square feet across two phases.
Stocks in news: Bajaj Finance, Vedanta, L&T Finance, Hindustan Zinc, Star Health
Nifty surpasses 24,300 with bullish momentum. Key companies perform well: Bajaj Finance, Vedanta, L&T Finance. Hindustan Zinc focuses on silver production growth. Indiabulls Housing Finance rebrands to Sammaan Capital. Star Health targets doubling Gross Written Premium.
Redevelopment projects: 8 common mistakes housing societies make when embarking on redevelopment, how to avoid it
The lure of new, modern flats can land ageing housing societies in big trouble. Find out how to avoid it.
Centre should have state-specific financial approach for development, says Kerala FM
Kerala Finance Minister urges Centre for state-specific financial approach and flexibility in borrowing, demanding Rs 24,000 crore package due to reduced funds. The state faces challenges like coastline erosion and aging population, requiring resource allocation for elderly care.
15 rural theme stock ideas with upside potential of over 18%
For the first time in five quarters, rural demand has outpaced urban demand. Rural volume growth was 7.6% in Q1CY24 vs 5.7% urban volume growth in the same quarter reflecting the evolving rural market dynamics. Domestic brokerage firm, Way2Wealth believes that the expectation of better monsoon and rural policy push by the government can lead to sustainable growth in the coming quarters, thus driving rural demand and economy. Recognizing the significance of the rural market, which still accounts for 65% of the country’s population, Way2Wealth listed 15 picks involved in the rural sector:
World Bank member IFC invests Rs 650 cr in Mindspace REIT’s sustainability-linked bonds
Global development institution International Finance Corporation (IFC), a member of the World Bank Group, has invested over Rs 650 crore in K Raheja Corp-backed Mindspace Business Parks REIT through an issue of sustainability-linked bonds.
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Quant Mutual Fund added 27 stocks to its portfolio in May. Do you own any?
Quant Mutual Fund is under Sebi inquiry for suspected front-running, leading to search and seizure operations in Mumbai and Hyderabad.
Budget wish list: Realtors want government to rationalise taxes, allot more for SWAMIH
Real estate developers are seeking measures in the upcoming Union Budget, including SWAMIH fund allocation, GST input tax credit, and rental housing incentives to support growth and demand creation.
Stock Radar: Formation of flag pattern supports bullish outlook for Can Fin Homes; time to buy?
Can Fin Homes Ltd remained range-bound in the last year, forming a Bullish Flag after a breakout from a Cup & Handle pattern in May 2023. Short to medium-term traders can consider buying the stock for a possible target above 1,000 once it closes above Rs 905.
Nisus Finance invests Rs 155 cr in affordable housing project in Surat
Nisus Finance has invested over Rs 155 crore in a late-stage affordable housing project by Dharmadev Group in Surat, Gujarat. The project is part of a larger layout on a 12-acre land parcel, comprising 4.5 million sq ft. Nisus has invested through its Real Estate Special Opportunities Fund-1 managed by Nisus BCD Advisors LLP.
Narela to benefit from new metro extension linking Delhi, UP, Haryana
The Union Finance Ministry has approved the 26-km Rithala-Narela-Kundli Delhi Metro corridor, awaiting final Cabinet approval. This Rs 6,231 crore project will enhance connectivity among Uttar Pradesh, Delhi, and Haryana, transforming the Narela sub-city. Funding is shared between the central and state governments, with significant contributions from the DDA and loans. The corridor, with 21 stations, will be a boon for Narela and Rohini sub-cities, improving access to key institutions and promoting regional development. Completion is expected in four years, with daily ridership projected to grow significantly by 2055.
Bajaj Housing Finance files papers for Rs 7,000 crore IPO
Bajaj Housing Finance, a non-deposit taking housing finance company, has filed Rs 7,000 crore IPO DRHP with fresh equity shares and OFS. In the OFS, Bajaj Finance will off-load its shares.
Rural jobs, roads, housing next on government radar
The government plans to construct 30 million houses under PMAY and is focusing on addressing rural distress to boost growth in private consumption expenditure and household savings.
Real estate sector pushes for tax rationalisation and reduced approval cost as Modi 3.0 set to take oath
With Narendra Modi set to take oath as Prime Minister for the third time, the real estate industry has high expectations from Modi 3.0. The interim budget announced a boost for affordable housing by adding 2 crore more houses to the PMAY-U scheme. Experts emphasize the need for policy reorientation, cost reductions, and tax rationalization to accelerate growth. Industry leaders stress the need for government intervention to drive further growth, including reforms in GST and revisiting affordable housing definitions.
Quant Smallcap Mutual Fund hikes holding in Adani Power, exits Hindalco, Britannia
Quant Small Cap Fund increased holdings in Adani Power in May. Fund exited stocks like Hindalco, Bharat Electronics, and Britannia, as per ETMutualFunds analysis.
These midcap stocks with ‘strong buy’ & ‘buy’ recos can rally over 25%, according to analysts
One segment of the markets which was most vulnerable to election results was the mid-cap segment of the market for one simple reason, valuations have been on the higher end. Now that a part of the election anxiety is behind as a new government gets formed. Once again the focus is back on the mid-cap. There are selected stocks from different sectors where analysts are bullish in time where there is rotational trade likely to take place in the next couple of months. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". This predefined screener is only available to ET Prime users.
Stocks in news: Adani Ports, REC, Maruti Suzuki, Hero MotoCorp, MosChip Tech
Equity markets await BJP's election outcome on June 4. GSK's Blenrep shows promise for multiple myeloma. NMDC reports 37% production fall in May.
Stocks in news: Apollo Hospitals, ICICI Pru Life, Hero MotoCorp, Muthoot Finance, Welspun Corp
Equity markets faced losses on Thursday due to uncertainty surrounding the election results. Shares of Apollo Hospitals, ICICI Pru Life, Hero MotoCorp, Muthoot Finance, and Welspun Corp were in focus with notable developments. RR Kabel, Premier Explosives, Suven Pharma, and Bharat Dynamics also had updates.
PhonePe launches secured loans in partnership with a bunch of NBFCs
PhonePe, a Bengaluru based fintech major, has launched secured loan products in partnership with non-banking finance companies like Tata Capital and L&T Finance. The Walmart owned company is offering six credit products to its customers.
Stocks in news: RIL, Hindalco, PNB Housing, Grasim, Tata Steel
State-run Indian Railway Catering and Tourism Corporation (IRCTC) reported a consolidated profit after tax (PAT) of Rs 284 crore, which was up 2% year-on-year.
Candidates of strong directional move on 4th June: 5 PSU stocks which have benefited the most due to government policy push and spending
In the last two years, it is a well known fact that every PSU stock has been re-rated by the street, right from perennial under-performers like oil marketing and refining oil companies to PSU banks. But if one looks a bit deeper there are some which have been re-rated more than others. The reason, these are PSUs which are from the sectors where the government has clearly decided are its priority areas and there has been a policy push for these sectors. A company which is going to be providing finance for the expansion of the solar energy network which is the next focus of the government. The overall demand runway for these sectors is longer which means overall growth will be higher when confirmation of policy continuity comes. Also they are in business where it would be difficult for the private sector to compete. Now because it is the policy push which matters, the continuity of tailwinds of higher government spending, will push them for another round of re-rating on the result day.
Shriram Finance shares climb over 5% on sale of housing finance subsidiary
Shares of Shriram Finance surged 5% to Rs 2,419 on Tuesday following the approval from its board to sell its housing finance unit, Shriram Housing Finance (SHFL), to US private equity firm Warburg Pincus for Rs 4,630 crore. Shriram Finance, which holds a controlling stake in SHFL, and Valiant Partners L.P.
Stocks in news: Bharti Airtel, Bharti Hexacom, Patanjali Foods, Zomato, Shriram Finance, TCS, Vedanta
Shares of Bharti Airtel, Shree Cements, Patanjali Foods, Devyani and PVR Inox will be in focus as the companies will announce their fourth quarter results today.
Shriram Finance to sell housing finance subsidiary to Warburg Pincus for Rs 4,630 crore
Warburg Pincus will acquire the stake through its affiliate Mango Crest Investment from all the sellers. Shriram Finance (SFL) holds a controlling stake in SHFL while private equity firm Valiant Partners L.P. (Valiant), Mauritius, holds the remaining ownership. As a part of this transaction, Valiant will also completely divest its equity stake to Warburg Pincus, the company filing said.
Home First eyes $75 million fundraise from US DFC
The company is in the final leg of getting all the regulatory approvals from the US for the fundraise. The lender's marginal cost of borrowing for the funds raised during the quarter to March 31, 2024 was 8.7%. The average cost of borrowing for FY24 was 8.2%, up 80 basis points year-on-year.
Piramal invests ₹300 crore in Cybercity's Hyderabad villa project
Piramal Capital & Housing Finance has invested nearly ₹300 crore in a villa development project by Cybercity Builders & Developers in Hyderabad. The funding will also be used to acquire land Cybercity Developers bought from Phoenix Group. Piramal Enterprises plans to merge its subsidiary, Piramal Capital & Housing Finance, with Cybercity Builders & Developers.
Govt evaluating RBI proposal for higher infrastructure provisioning; bankers, NBFCs voice concern
Lenders may oppose the draft rules, which proposes provisioning of up to 5% from current 0.4%, due to concerns over rising interest rates and potential disruption to capital expenditure. Banks plan to lobby against the steep increase, arguing it could affect project viability and economic momentum. State-owned NBFCs and infrastructure firms are also raising concerns, emphasizing the need to balance risk and support for infrastructure financing.
Regulatory tightening over? Time to revisit. 5 housing finance stocks with upside potential of up to 39%
To some the news of the possible changes in project finance by banks and other sectoral lenders might appear to have come out of the blue. But the fact is that RBI has been in a process of tightening and cleaning up the system of every segment and subsegment of banking and financial services for more than the last one and a half years. Infact the first set of companies where the tightening of the norms was implemented were housing finance companies. Right from raising capital to disbursement norms, everything was tightened. Whenever there is tightening of norms, stocks from that sector tend to correct. Same has been the case with housing finance companies, they have underperformed in the last one year of bull run. But as the companies adjust to new norms, there will be some players who probably would make a comeback faster. Given the fact that despite all the problems which the sector has faced, it has still grown on an overall basis and there is no reason to believe that this will not happen in future.
HDFC Bank home loan, car loan, personal loan borrowers, check HDFC Bank latest lending rates here
The Marginal Cost of the Fund-Based Lending Rate or the MCLR is the minimum interest rate that a financial institution needs to charge for a specific loan. Check latest MCLR, base rate, benchmark PLR offered by HDFC Bank.
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