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Home » News » Business » HDFC shares fall after NHB asks to set aside more funds

HDFC shares fall after NHB asks to set aside more funds

Shares of Housing Finance Development Corp (HDFC) fell 3% to 659.70 on Friday on news the National Housing Bank ( NHB )) has asked housing finance companies to set aside more funds for less riskier retail home loan portfolio. The move could impact earnings of housing finance companies, including HDFC.

Analysts said HDFC would have to make an additional provisioning of 140 crore. The regulator for housing finance companies raised standard assets provisioning on retail home loans from 0.1% to 0.4%. The housing financer has been out of the radar of many investors in the last year or so as higher interest rates and elevated property prices threaten to hit demand for home loans.

The stock’s decline of close to 10% so far in 2011 has been in line with that of benchmark indices.

Contributed by Shailesh Menon and Nishanth Vasudevan

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