DSIJ Mindshare

The rating agency CRISIL has upgraded the ratings of Muthoot HomeFin India Ltd (MHIL) term loans, working capital demand loan and proposed long term bank facility to ’CRISIL AA/Stable’ from ’CRISIL AA-/Stable’.  

The shares of NBFCs experienced sudden and heavy selling pressure on Friday. The rising cost of borrowing of housing finance companies is a major concern for the investors. 

Despite a huge turmoil in the benchmark indices, majorly led by the NBFCs which also dragged the Nifty IT index 1.4 per cent, the giants TCS and Wipro maintained upsurge and hit record high levels.

Brent oil prices witnessed bottom fishing at 70.30 levels in the mid-August 2018 and thereby gave a bounce-back near to its important resistance levels. The prices surged 14 per cent from the said low to a high of 80.13 hit on September 12, 2018.  

Aavas Financiers plans to raise up to Rs. 1734 cr through offer for sale (OFS) and fresh issue of shares. The OFS includes sale of 1.6 cr shares with face value of Rs 10. The fresh issue will be to raise ~Rs.400 cr by issuing ~48.7 lakh shares. The price band is Rs.818 – Rs.821 per equity share. The offer opens from Sep 25- Sep 28.