Share market update: Nifty Financial Services index up; Indiabulls Housing Finance jumps 5%

NEW DELHI: The Nifty Financial Services index was up with most of its components trading with gains in Tuesday’s afternoon session. Shares of Indiabulls Housing Finance (up 5.69 per cent), Shriram Transport Finance Company (up 4.20 per cent), Cholamandalam Investment & Finance Company (up 3.75 per cent) and Indiabulls Ventures (up 3.51 per cent) were the top gainers in the index. ICICI Bank (up 2.38 per cent), Mahindra & Mahindra Financial Services (up 1.58 per cent), State Bank of India (up 1.37 per cent) and REC (up 1.08 per cent)…

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RBI to set up panel on development of housing finance securitisation market

The Reserve Bank of India, on Thursday, announced that it will soon set up a committee to assess the state of housing finance securitisation market in the country. The move is aimed at bringing in standardisation of asset securitisation practices to enable better management of credit and liquidity risks. The committee, which will be announced soon, will also study the best international practices, and lessons learnt from the global financial financial crisis. It will propose measures to further develop these markets in India by identifying critical steps required, such as…

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Oikocredit, others invest in housing finance company SEWA Grih Rin

SEWA Grih Rin Ltd, an affordable housing finance company of the Self-Employed Women’s Association (SEWA) Group, said it has raised Series B funding. The lender, operating under Sitara brand, has closed Rs 67 crore ($9.8 million at current exchange rate) funding round from Oikocredit, Omidyar Network India, HDFC Life Insurance, HDFC Holdings Ltd and Women’s World Banking. The company will be using the funds to strengthen its position in existing geographies as well as to expand strategically to other states. SEWA Grih Rin is promoted by a SEWA Mutual Benefit…

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US PE firm invests £120m in UK student housing

The deal, Starwood’s first in the UK, totals 1,595 beds in England and Scotland, adding to the 6,855 student beds under Starwood management in the US. “We look forward to building on this transaction to establish a sizeable student housing platform in the UK” The “six modern, purpose-built, premium student accommodation assets” are in The Haymarket in Edinburgh, Chestnut House in Cambridge, The Walls in Southampton, St James House in Glasgow and Union Square and Stepney Yard, both in Newcastle. The ‘forward funded’ Newcastle development is slated be ready for the 2018/19 academic…

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After hesitation, Carson accepts Trump’s offer to head U.S. housing department

Retired neurosurgeon Ben Carson, a rival-turned-supporter of Donald Trump, overcame his stated qualms about a lack of government experience on Monday to accept the president-elect’s nomination to lead the Department of Housing and Urban Development. Democrats criticized the Republican president-elect’s latest pick for his incoming administration, calling Carson unqualified to take over $48-billion agency that oversees public housing. Carson, a popular writer and speaker in conservative circles, has been a close adviser to Trump since he dropped out of the 2016 Republican presidential primary contest and he is a vice…

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Get premium housing solutions in Coimbatore through house for rent in Coimbatore

Tamil Nadu is the city of technology and everybody wants to own a house in this city or its periphery like Coimbatore. It is one of the prime locations for residential purposes. It is everybody’s dream to have their own house. After seeing the difficulties in construction of an independent house, people are aligned towards the rental houses and as a result, the demands for these houses also increasing rapidly. They are considered as best because of the services and benefits attached with them. Due to the colossal increase in…

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