Rajesh Agarwal, Head of Research of Eastern Financiers told CNBC-TV18, "As far as the numbers is concerned we are really surprised that without investment income the numbers were so good in Housing Development Finance Corporation (HDFC), but as far as buying the stock is concerned the valuations are stretched."
He further added, "If somebody wants to invest in a housing finance company, LIC Housing Finance or a GIC Housing Finance would always be a better bet considering the fact that they are trading at a valuation of less than 10 times their earnings and even the dividend yield is very good in both the stocks."
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