Buy LIC Housing Finance, target price Rs 482: Religare Broking

Religare Broking has buy call on LIC Housing Finance with a target price of Rs 482. The current market price of LIC Housing Finance is Rs 438. Religare Broking recommended to keep stoploss at Rs 418.

LIC Housing Finance, incorporated in the year 1989, is a Large Cap company (having a market cap of Rs 23963.49 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
Ended prolonged corrective phase with noticeable volumes. Expect positive tone to continue.

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.