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Last Updated : May 07, 2019 02:21 PM IST | Source: Moneycontrol.com

Hold LIC Housing Finance; target of Rs 540: ICICI Direct

ICICI Direct recommended hold rating on LIC Housing Finance with a target price of Rs 540 in its research report dated May 06, 2019.

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ICICI Direct's research report on LIC Housing Finance


LIC Housing Finance reported a healthy operational performance led by steady advances growth coupled with improvement in margins. NII came in at Rs 1223 crore, up 12.8% QoQ (21.8% YoY) mainly led by sharp expansion in margins of 21 bps QoQ. Higher slippages & provisions impacted earnings, though above our estimates at ~Rs 693 crore, up 14.4% YoY.


Outlook


We revise our target price higher to Rs 540 (earlier Rs 475) valuing the stock at 1.4x FY21E ABV. We maintain HOLD recommendation.


For all recommendations report, click here


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First Published on May 7, 2019 02:21 pm
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