Buy LIC Housing Finance; target of Rs 353: Geojit
Geojit recommended is bullish on LIC Housing Finance has recommended buy rating on the stock with a target price of Rs 353 in its research report dated August 28, 2020.
August 28, 2020 / 04:22 PM IST
Geojit's research report on LIC Housing Finance
For Q1FY21, loans portfolio increased 6.1% YoY driven by Individual loan portfolio (+6.0% YoY) and Project loan (+7.5% YoY). Total disbursements stood at Rs. 3,561cr (-65.3% YoY). Net Interest Margin (NIM) for the quarter contracted ~10bps to 2.32%. Net Profit rose 33.9% YoY to Rs. 817cr, owing to decline in provisions. The expectation of economy to improve post lockdown, strong fundamentals, and new products will boost performance in near future.
Hence, we reiterate our BUY rating on the stock with a revised target price of Rs. 353 based on 0.8x FY22E BVPS.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.