Housing finance companies scorch the charts on upgrade hopes:

Shares of top-rated housing finance companies (HFCs) hit a one-year high on Tuesday as investors bet on the gains to the sector from the government’s ambitious target of ensuring a home to every family by 2022.

HDFC, Indiabulls Housing, DHFL, LIC Housing, GIC Housing and PNB Housing caught the investors’ fancy amid possibility of rating upgrades.

“Outlook for HFCs is strong given the government’s push for the sector,“ said Karthik Srinivasan, group head for financial sector ratings at ICRA. “There is no material asset quality concern, while demonetisation has not impacted the HFCs adversely. Lower cost of funds help in supporting interest margins.“

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