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Budget impact: NBFCs continue to rise, stock gains 18%

By Souvick Bhaduri | 2/2/2017 12:50 PM Thursday

After a stellar rally on Wednesday, non-banking financial company (NBFC) stocks like Ujjivan Financial Services, Bharat Financial Inclusion, Equitas Holdings and Capital First continue to rise on the back of strong support shown by government towards rural development, during the Budget speech of Finance Minister Arun Jaitley.

The Finance Minister announced steps to boost rural income and promote affordable income, during his budget speech on Wednesday. He increased the budget allocation by 24 per cent for the rural, agriculture and related sectors to Rs 1.87 lakh crore. He has further allocated highest ever budget of Rs 48,000 crore which is increased by 24.6 per cent YoY.

To boost the housing sector, the government has reduced the long term capital gain (LTCG) holding period from 3 years to 2 years for immovable assets. He further gave infrastructure status to affordable housing to help them take benefit of the status. Adding to that, the government has proposed to build one crore houses by 2019 for the people living in 'kutcha' houses with a raised budget allocation for Pradhan Mantri Awaas Yojana-Gramin to Rs 23,000 crore in FY17-18 from existing Rs 15,000 crore.

Overall, these steps have given a big push to all the NBFCs, which would directly get the benefit. Some of the star performers of this sector that have gained in a range of 8-18 per cent in last two days are:

 

 

Find More Articles on: Markets, DSIJ Mindshare, Research, Budget 2017

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DSIJ Mindshare

Five stocks with buying interest

Five stocks with buying interest

Overall volumes in futures & options currently stand at 48.94 lakh contracts with a turnover of Rs. 4,31,171 crore.

Index trend and stocks in action September 21, 2017

Index trend and stocks in action September 21, 2017

However, if this support zone is breached, selling pressure may intensify in that case supports are seen around 10,080 and 10,040 levels. On the upside, the level of 10,180 is a key resistance level. 

Markets are likely to make a soft-to-cautious start

Markets are likely to make a soft-to-cautious start

Domestic markets are likely to make a soft to cautious start on sluggish global cues. The Nifty futures on the Singapore Exchange were trading at 10,147 lower by 21 points.  

Tyre stocks gain as MoF imposes anti-dumping duty on Chinese TBRs

Tyre stocks gain as MoF imposes anti-dumping duty on Chinese TBRs

The Ministry of Finance has imposed anti-dumping duty on truck and bus radials (TBR) from China, which lifted tyre stocks in early trade today.

Ten stocks close to their 52-week low

Ten stocks close to their 52-week low

Following stocks are close to their 52-week low as at 12.47 p.m. on September 20.

Ten stocks close to their 52-week high

Ten stocks close to their 52-week high

The markets on September 20 opened up. BSE Sensex is trading at 32,404.86, up by 2.49 points and the Nifty is trading at 10,144.75, down by 2.80 points.

Five stocks with buying interest

Five stocks with buying interest

Overall volumes in futures & options currently stand at 44.21 lakh contracts with a turnover of Rs. 3,80,640.95 crore.

Index trend and stocks in action September 20, 2017

Index trend and stocks in action September 20, 2017

Whereas, on the downside, the gap area of 10,115-10,131 may act as a strong support in the coming days, however, if this support is breached than selling pressure may be seen in this case nifty may fall up to levels of 10,080 and 10,040. 

Markets may open slightly lower

Markets may open slightly lower

Indian shares are likely to witness a muted opening as the Asian markets trade on a subdued note. The Nifty futures on the Singapore Exchange were trading at 10,156 with losses of 11 points, indicating a muted opening. 

Prataap Snacks IPO - An avoidable chip!

Prataap Snacks IPO - An avoidable chip!

The forthcoming IPO of Prataap Snacks Ltd consists of fresh issue of equity shares with face value of Rs 5 each worth Rs 200 crore and offer for sale (OFS) of 30,05,770 equity shares worth Rs 220 crore, with the issue size aggregating to Rs 420 crore.