NBFC stocks jump after RBI eases risk weight norms
NBFC stocks jumped after the Reserve Bank of India (RBI) lowered risk weights for bank finance to NBFCs and microfinance loans, a move that will unlock more funds and boost credit. A lower risk weight means that lenders need to set aside less funds as a safety net for consumer loans, implying an increase in their lending capacity.
L&T Finance is currently trading at Rs. 139.90, up by 6.50 points or 4.87% from its previous closing of Rs. 133.40 on the BSE.
Shriram Finance is currently trading at Rs. 601.55, up by 27.40 points or 4.77% from its previous closing of Rs. 574.15 on the BSE.
Cholamandalam Investment and Finance Company is currently trading at Rs. 1429.95, up by 62.80 points or 4.59% from its previous closing of Rs. 1367.15 on the BSE.
Mahindra & Mahindra Financial Services is currently trading at Rs. 282.45, up by 11.35 points or 4.19 % from its previous closing of Rs. 271.10 on the BSE.
Bajaj Finserv is currently trading at Rs. 1929.35, up by 53.40 points or 2.85% from its previous closing of Rs. 1875.95 on the BSE.
Bajaj Finance is currently trading at Rs. 8698.15, up by 205.75 points or 2.42% from its previous closing of Rs. 8492.40 on the BSE.
