India's Home First Finance rises after govt's housing push

Home First Finance India

17/08/2023 08:36

** Shares of Home First Finance Company India  HOME.NS  rise
as much as 8.93% to 922 rupees, hitting their highest level
since Sept. 6 
    ** Stock mark sharpest intraday pct gain since Nov. 16
    ** Indian govt proposes new housing scheme to provide relief
in interest rates on loans from banks
    ** Such a scheme could provide subsidies in interest rate to
low-and-middle-income households - Investec  
    ** Adds, HOME will be "biggest beneficiary" as it focuses on
urban affordable housing segment
    ** More than 808,000 shares change hands by 12:30 p.m. IST,
4.5x 30-day avg
    ** Avg rating of 16 analysts close to equivalent of "buy,"
median PT is 1,005 rupees - Refinitiv data
    ** Stock up 19% YTD


 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))