India Home up 6% on MOU with Surat Urban Development Authority 

 "India Home Loan has entered into memorandum of understanding (MOU) with Surat Urban Development Authority (SUDA) for facilitating housing loans to borrowers in Surat," the company said in its filing. Shares of India Home Loan gained nearly 6 percent intraday Friday after signing agreement with SUDA for providing housing loans. "India Home Loan has entered into memorandum of understanding (MOU) with Surat Urban Development Authority (SUDA) for facilitating housing loans to borrowers in Surat," the company said in its filing.

 The company will provide housing loans to borrowers under economically weaker sections for buying houses or flats under the scheme of Mukhyamantri Gruh Yojna at various locations in Surat city. Meanwhile, last week, the rating agency Credit Analysis and Research upgraded credit rating for proposed long term bank facilities from CARE BB to BBB- considering the recent developments in operational and financial performance of the company. India Home Loan had reported profit of Rs 7.14 lakh (against Rs 10.42 lakh YoY) on revenue of Rs 131.42 lakh (Rs 105.5 lakh) for the quarter ended December 2016. At 11:28 hours IST, the stock was quoting at Rs 100.50, up Rs 3.10, or 3.18 percent on the BSE

Read more for Indian Stock Tips- http://bit.ly/ace_services