Affordable Housing - Realty Scrips Sky Rocket
Tuesday, April 24, 2007At a monetary policy meeting today, RBI kept its key borrowing rate, known as the reverse repo, steady at 6% and held the bank rate, used to price long-term lending, steady at 6%. The RBI is likely to consider a proposal where housing loans less than Rs 20 lakh will cost lesser than prevailing rates for other Real Estate lending.
There was no change to the cash reserve ratio (CRR) beyond a previously announced increase to 6.5%, due on 28 April 2007.
Unitech (up 9.20% to Rs 435.55), Indiabulls Real Estate (up 6% to Rs 322), Ansal Housing (up 9.48% to Rs 282.45), Mahindra Gesco Developers (up 7.85% to Rs 658), Parsvnath developers (up 7.16% to Rs 318.20), Akruti Nirman (up 4.66% to Rs 397.50), and Sobha Developers (up 4.86% to Rs 855.35) had surged.
Dalal Street Business Reports
- Holcim hikes stake in Gujarat Ambuja Cements
- Indian Pharm Acquistions - Cadila, Stride Acrolab
- Rayban Sun Optics India Open Offer Revised
- ICRA Lists at Rs 570 on NSE
- Infosys FY2008 Guidance at 22.8%
- Jet Airways to Crash. Citi Puts Aggressive SELL
- SRF jumps on bulging proceeds from carbon credit s...
- Bears Occupy Dalal Street
- Infosys guidance could be lower
- RBI Hikes CRR Again
