Indian NBFCs rise as cenbank eases asset securitisation norms

Repco Home Finance

30/11/2018 04:47

** Shares of India's non-banking financial companies (NBFCs)
gain after central bank relaxed rules to sell or securitise
their loan books, in a bid to ease persistent stress in the
sector  urn:newsml:reuters.com:*:nL4N1Y44D0
    ** NBFCs can now securitise loans of more than five-year
maturity after holding those for 6 months on their books, the
Reserve Bank of India said on Thursday
    ** Dewan Housing Finance Corp Ltd  DWNH.NS  rise as much as
7.4 pct to 214.8 rupees, while Indiabulls Housing Finance Ltd
 INBF.NS  gains as much as 3.4 pct to 725 rupees
    ** Brokerage Motilal Oswal says this move should be
beneficial largely to housing finance companies (HFCs) only,
because they have loans of 5-yr+ maturity
    ** Motilal Oswal says Dewan Housing and Indiabulls Housing
will be big beneficiaries among HFCs, since they have higher
share of off-balance sheet assets compared to peers and their
reliance on sell-downs to raise funds has been greater in these
times of tight liquidity 
    ** Bajaj Finance Ltd's  BJFN.NS  shares rise as much as 2.3
pct to 2,564.40 rupees, their highest since Sept. 19

 ((Reuters Messaging:
krishna.vkurup.thomsonreuters.com@reuters.net))