Sunteck Realty towers up

Sunteck Realty is doing very well today morning, figuring currently among the top five gainers on the BSE. The stock, which had closed yesterday at Rs.423.75, opened higher today at Rs.447, rising further to an intraday high at Rs.450.15.

The stock has zoomed up on its announcement that it has entered into an agreement with SBI - Residential Builder Finance with Buyer Guarantee (RBBG). This is to safeguard home buyers financially by issuing guarantee for completion of projects to customers availing SBI Home Loans.

Now, customers will be able to secure their investment in the ongoing home projects financed by the bank itself. RBBG will focus on affordable housing segment with home price of upto Rs. 2.50 crores in seven Indian geographies initially. Under this product, all reputed builders fulfilling the prescribed criteria by the bank can avail loan between Rs. 50 crores to Rs. 400 crores. Criteria includes Star rating and CIBIL score.

This agreement safeguards customers of Sunteck financially against non-completion of projects and that in today’s time is a good sentiment booster.