Budget impact: Aavas Financiers soars 7% on affordable housing boost

Finance Minister Nirmala Sitharaman on Tuesday in the Union Budget 2022 speech said that Rs 48,000 crore is allotted for PM Awas Yojana.

Shares of Aavas Financiers surged 7 per cent to hit a record high of Rs 3,073.90 in Tuesday’s intra-day trade on the BSE after Finance Minister Nirmala Nirmala Sitharaman proposed to build 8 million houses under the Prime Minister (PM) Awas Yogna and allocated Rs 48,000 crore for the purpose affordable housing in the Union Budget 2022.

The stock of the housing finance company surpassed its previous high of Rs 3,068.30, touched on July 6, 2021. At 12:45 pm; Aavas Financiers traded 5.5 per cent higher at Rs 3,030.40, as compared to 1.6 per cent rise in the S&P