Housing finance companies shares hit new high in weak market

LIC Housing, PNB Housing, Gruh Finance, GIC Housing and Can Fin Homes hit new highs in intra-day

Shares of housing finance companies (HFCs) were trading higher by up to 4%, extending its past week rally, after the Reserve Bank of India (RBI) lowered risk-weights assigned to home loans lent on or after June 7.

LIC Housing Finance, PNB Housing Finance, Gruh Finance, GIC Housing Finance and Can Fin Homes hit their respective record highs on BSE in intra-day trade on Monday. At 12:34 pm as compared to S&P BSE Sensex, which was down 0.46% or 143 points at 31,119.

Since June 7 RBI policy, HFCs has outperformed the market by gaining up to 18% against