Sep 11, 2013 11:27 AM IST | Source: CNBC-TV18

Buy LIC Housing Finance, says Sudarshan Sukhani

Sudarshan Sukhani of recommends buying LIC Housing Finance.

Sudarshan Sukhani of told CNBC-TV18, "Who are looking to build positions may buy LIC Housing Finance. I understand that Nifty can go back to 5,000. I do not know but it is quite possible. That is the worst which could happen. One still have to start accumulating. It is a small base, the breakout from a base is imminent and for short-term trader there is more steam."

"All the banks and financials are now coming into foray, into that play. The other stocks are going to take a backseat. LIC Housing Finance is coming out of a formation of a trading range, buy it," he said.

At 10:37 hrs LIC Housing Finance was quoting at Rs 188.50, up Rs 3.35, or 1.81 percent. It has touched an intraday high of Rs 191.40 and an intraday low of Rs 185.50.

The share touched its 52-week high Rs 300.00 and 52-week low Rs 152.00 on 02 January, 2013 and 04 September, 2013, respectively. Currently, it is trading 37.17 percent below its 52-week high and 24.01 percent above its 52-week low. Market capitalisation stands at Rs 9,512.90 crore.

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