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Dewan Housing edges higher on plans of offering educational loan at special interest rates

09 May 2013 Evaluate

Dewan Housing Finance Corporation is currently trading at Rs 180.60, up by 0.50 points or 0.28% from its previous closing of Rs 180.10 on the BSE.

The scrip opened at Rs 181.40 and has touched a high and low of Rs 182.40 and Rs 177.70 respectively. So far 9616 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 224.90 on 15-Jan-2013 and a 52 week low of Rs 142.25 on 27-Jul-2012.

Last one week high and low of the scrip stood at Rs 190.00 and Rs 171.15 respectively. The current market cap of the company is Rs 2295.11 crore.

The promoters holding in the company stood at 38.07% while Institutions and Non-Institutions held 39.38% and 22.55% respectively.

Avanse Education Loans, an education finance company promoted by Dewan Housing Finance Corporation (DHFL), has entered into Delhi market offering loans that will cover the full education cost at a special interest rate of 12.25 percent.

The company will sanction education loans in a maximum of 4 days and will cover 100 percent cost of education including living, travelling and other expenses. Students can benefit loans as high as Rs 1 crore or up to the maximum value required for the course.

The students can repay the loan through Avanse’s flexible repayment plans with repayment tenure up to 10 years (120 months). The education loan scheme will also provide students free international student identity card that will entitle them to various discounts and benefits in 106 countries worldwide.

Avanse is a Non-banking Finance Company (NBFC) regulated by the Reserve Bank of India (RBI).

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