NBFC stocks in focus; Chola Investment, Shriram Transport rally up to 8%

In a discussion paper released on its website, the RBI has suggested a four-tier pyramid structure for the sector.

Shares of non-banking financial companies (NBFCs) were in focus in Monday's session as they rallied up to 8 per cent after the Reserve Bank of India (RBI) released a discussion paper on revised regulations for the sector.

Shares of Shriram Transport Finance Corporation jumped 8 per cent to Rs 1,242 on the BSE while Cholamandalam Investment and Finance Company and Mahindra & Mahindra Financial Services were up 6 per cent each at Rs 449 and Rs 185, respectively, in intraday trade. Housing Development Finance Corporation (HDFC), Bajaj Finance, Bajaj Finserv and LIC Housing Finance, among large-cap stocks, were up in