Post-RBI monetary policy announcement, stocks of housing finance companies namely LIC Housing Finance, GIC Housing Finance, Repco Home Finance, Can Fin Homes, M&M Finance, Punjab Housing Finance, IndiaBulls HF stocks surged. The decision to maintain the repo rate and reverse repo rate was well accepted by the stocks of housing finance companies.
At 11.35 am, LIC Housing Finance share was high at Rs 315.30 per piece (increased by 9.99 per cent), whereas GIC Housing Finance share touched Rs 112.30 per piece. Meanwhile, Repco Home stock touched Rs 218.40 per piece. It surged by 9.70 per cent.
IndiaBulls Housing Finance share rose by 5.1 per cent to trade at Rs 157.25 per piece. In the case of Punjab Housing Finance, it was trading at Rs 374.70 per piece.
Today Shaktikanta Das, RBI Governor announced that Monetary Policy Committee (MPC) voted unanimously to keep policy repo rate unchanged at 4 per cent. He added MPC also decided to continue with the accommodative stance of monetary policy as long as necessary at least through the current financial year and next year.
He also said Marginal Standing Facility Rate and bank rate remains unchanged at 4.2 per cent and the reverse repo rate stands unchanged at 3.35 per cent.