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Buy LIC Housing Finance: Target Of Rs 370: Sharekhan

Sharekhan is bullish on LIC Housing Finance recommended buy rating on the stock with a target price of Rs 370 in its research report dated November 12, 2020.

Nov 15, 2020 / 11:30 AM IST
 
 
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Sharekhan's research repor on LIC Housing Finance


LIC Housing Finance (LICHF) posted encouraging results that were largely in line with expectations in terms of operational performance and marginal q-o-q uptick in margins and improvement in asset quality. Improved pickup in disbursement is encouraging and is better from Q1; Collection efficiency stood at 96% for September 2020. LICHF has strengths in its borrowing profile and is seeing its cost of funds coming down; conservative LTVs and inexpensive valuations make risk-return favourable. We believe the outlook for NBFCs and LICHF in particular has improved. At the CMP, LICHF is currently at 0.84x/0.75x its FY2022E and FY2023E ABVPS.


Outlook


We maintain our Buy rating with a revised PT of Rs. 370.


For all recommendations report, click here


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Broker Research
first published: Nov 15, 2020 11:30 am

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