In the last Budget speech of the Modi 2.0 government, the FM said the scheme will help deserving sections of the middle class, who are currently living in rented houses or slums or chawls and unauthorised colonies, to buy or build their own houses.
The top gainer in the pack was Housing & Development Corporation (HUDCO), whose shares jumped 18% to hit a 52-week high of Rs 204.40 on the NSE. Repco Home Finance surged up to 14% and also hit a 52-week high of Rs 463.25.
Among other gainers were PNB Housing Finance, Can Fin Homes, Aavas Financiers, Home First Finance Company and LIC Housing Finance, which gained up to 5%. Shares of LIC Housing Finance also hit a fresh 52-week high of Rs 634.80 gaining over 1%.
The details of the Centres’ scheme are yet to be announced.Sitharaman, during her 1-hour-long Budget speech also announced the extension of Pradhan Mantri Awas Yojana in the rural sector. But this failed to cheer realty stocks, which fell up to 3% on the intra-day basis on Thursday. “Despite the challenges due to Covid, implementation of PM Awas Yojana (Grameen) continued and we are close to achieving the target of three crore houses,” she said.Read More: Union Budget 2024: FM announces affordable housing for middle class; realty stocks not amusedAmong other key announcements made in the Budget, the government increased the capital expenditure outlay by 11.1% to 11.11 lakh crore. This would be 3.4% of the GDP.
This was an interim or a vote-on-account Budget for the government to meet its expenses until the general elections. A full Budget will come later after the new government assumes power.
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