Banking, Housing finance and shares of real estate stocks surged to a great extent after RBI’s 6 bi-monthly MPC statement. The RBI has decided to permit extension of timeline for commercial real estate projects, to give a big boost to the realty sector.
Accordingly, the RBI provided an extension of the timeline for commercial real estate projects. The extension of Date of Commencement of Commercial Operations of project loans for commercial real estate will be allowed to be extended by a year without down-grading asset classification. Catch the latest stock Option trading updates and all-time free stock tips from here.
Nifty Realty index climbed up to 1-pc but last was quoting lower by 0.30 percent. Shares constituting the index such as Oberoi Realty, Brigade Enterprise, Godrej Properties went up by 1 to 3-pc.
Conversely , housing finance companies also jumped in trade with Pirmal Enterprises climbing up to 10-pc, PNB Housing up 6-pc and LIC Housing up 8 percent, during mid-session.