Buy LIC Housing Finance, target price Rs 485: Axis Securities

Axis Securities has buy call on LIC Housing Finance with a target price of Rs 485. The current market price of LIC Housing Finance is Rs 420.15. Time period given by analyst is 4 weeks 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 22995.38 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 daily and weekly strength indicator RSI continue to remain bullish and quoting above 50 mark which signals sustained and rising strength

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.