Indian housing finance firms gain on report govt to hike subsidies

Housing and Urban Development

03/07/2024 11:22

** Shares of Indian housing finance companies settle between
4% and 8.5% 
    ** India plans to increase state subsidies on rural housing
by as much as 50% in upcoming federal budget, Reuters reports 
    ** Shares of companies with focus on affordable housing
rise, with Aadhar Housing  AADA.NS  and GIC Housing Finance
 GICH.NS  up 4% each, while Housing and Urban Development Corp
 HUDC.NS  up nearly 9%
    ** So far in 2024, HUDC and GICH shares have risen 140% and
16.5%, respectively 
    ** AADA stock up 39% since listing in May 

 (Reporitng by Nishit Navin)
 ((nishit.navin@thomsonreuters.com;))