Know why Indiabulls' stocks surged

Indiabulls Housing Finance surged 6.2 percent on the National Stock Exchange on expectation of strong loan growth from the retail side following the government's longer term plan to provide housing for all. The stock hit a fresh 52 week high on the exchanges.

A minor dip in whole sale borrowing costs, following the cut in interest rates by the Reserve Bank of India, is also boosting sentiment on Housing Finance companies, who depend on such funds to boost their lending.

Shares of Indiabulls Housing rose 37.55 rupees to 667.30 rupees with 14 lakh shares changing hands on the NSE.

(Image credit: Indiatimes)