Sharekhan's research report on LIC Housing Finance
LIC Housing Finance (LICHF) is an attractive player in the housing mortgage market, with positives such as stable margins going ahead, pick-up in business growth helped by low interest rates, stable property prices, rising affordability and the government’s push to drive demand for housing. Going forward, as corporate credit demand / capex reboot is expected to revive in FY22E, we believe will augur well for HFCs as they may see lower competition from banks. Valuations reasonable at 1.2x/1x its FY2022E and FY2023E ABVPS; we finetune our target multiple considering the business strengths and fundamentals.
Outlook
We maintain a Buy rating on the stock with a revised PT of Rs. 610.
For all recommendations report, click here
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