May 21, 2013 07:11 PM IST | Source: CNBC-TV18

Hold LIC Housing, says Sharmila Joshi

Sharmila Joshi, Head of Equity of Peerless Securities advised holding LIC Housing Finance. She expects Rs 290-295 levels on the stock in next three-four months.

Sharmila Joshi, Head of Equity of Peerless Securities told CNBC-TV18, “May be about Rs 290 kind of level on LIC Housing Finance. Because if you see the way the stock has moved in the whole midcap carnage that we had, we saw the stock corrected deeply and now we see good amount of recovery. So in that sense it has recovered nicely from the lows that it made.”

She further said, “We have had a bit of a positive coming for it in the Budget when you got that extra tax concession for first time house owners and that should reflect in their numbers going ahead. Plus interest rate has gotten cut once, may be you will see another interest rate cut going ahead. So that cycle seems to have peaked. So better results, things are looking up for LIC Housing. Stay put, may be in three-four months expect levels of Rs 290-295.”

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