Buy LIC Housing Finance, target price Rs 460: ICICI Direct

ICICI Direct has buy call on LIC Housing Finance with a target price of Rs 460. The current market price of LIC Housing Finance is Rs 396.3. Time period given by analyst is 3 months when LIC Housing Finance Ltd. price can reach defined target.

LIC Housing Finance Ltd., incorporated in the year 1989, is a Large Cap company (having a market cap of Rs 21917.26 Crore) operating in NBFC sector.

LIC Housing Finance Ltd. key Products/Revenue Segments include Interest, Fees & Commission Income and Income From Financial Services for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 5302.50 Crore, down -.64 % from last quarter Total Income of Rs 5336.48 Crore and up 8.94 % from last year same quarter Total Income of Rs 4867.22 Crore. Company reported net profit after tax of Rs 926.89 Crore in latest quarter.

Investment Rationale
The stock witnessed significant delivery based activity in the current month at Rs 370-380, which is a crucial support level for the stock. Since accumulation was seen in this stock last week, the brokerage believes downsides are limited and positive momentum is likely to remain intact in the stock above the mentioned levels

Promoter/FII Holdings
Promoters held 45.24 per cent stake in the company as of 30-Jun-2022, while FIIs owned 20.67 per cent, DIIs 19.21 per cent.