November 30, 2018 / 4:48 AM / 3 months ago

BUZZ-Indian NBFCs rise as cenbank eases asset securitisation norms

** Shares of India’s non-banking financial companies (NBFCs) gain after central bank relaxed rules to sell or securitise their loan books, in a bid to ease persistent stress in the sector

** NBFCs can now securitise loans of more than five-year maturity after holding those for 6 months on their books, the Reserve Bank of India said on Thursday

** Dewan Housing Finance Corp Ltd rise as much as 7.4 pct to 214.8 rupees, while Indiabulls Housing Finance Ltd gains as much as 3.4 pct to 725 rupees

** Brokerage Motilal Oswal says this move should be beneficial largely to housing finance companies (HFCs) only, because they have loans of 5-yr+ maturity

** Motilal Oswal says Dewan Housing and Indiabulls Housing will be big beneficiaries among HFCs, since they have higher share of off-balance sheet assets compared to peers and their reliance on sell-downs to raise funds has been greater in these times of tight liquidity

** Bajaj Finance Ltd’s shares rise as much as 2.3 pct to 2,564.40 rupees, their highest since Sept. 19

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