Buy LIC Housing Finance, target price Rs 452: Yes Securities

Yes Securities has buy call on LIC Housing Finance with a target price of Rs 452. The current market price of LIC Housing Finance is Rs 2003.5. Yes Securities recommended to keep stop loss at Rs 410.

LIC Housing Finance, incorporated in the year 1989, is a Large Cap company (having a market cap of Rs 23658.21 Crore) operating in NBFC sector.

LIC Housing Finance key Products/Revenue Segments include Interest, Income From Financial Services and Fees & Commission Income for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 6759.13 Crore, up 5.10 % from last quarter Total Income of Rs 6431.23 Crore and up 27.47 % from last year same quarter Total Income of Rs 5302.50 Crore. Company has reported net profit after tax of Rs 1319.04 Crore in latest quarter.

Investment Rationale
Stock retreated off the support zone, positive follow up action is likely to continue recent pullback.

Promoter/FII Holdings
Promoters held 45.24 per cent stake in the company as of 30-Jun-2023, while FIIs owned 17.15 per cent, DIIs 24.91 per cent.