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LIC Housing, PNB Housing, L&T Finance Shares Hit 52-week Lows
Stocks of bluechip companies from the NBFC and the Housing Finance space have come crashing down to 52-week lows.
Among these include the likes of PNB Housing Finance, L&T Finance Holdings and LIC Housing Finance.
L&T Finance Holdings hit a new 52-week low of Rs 78.60 on Oct 9, while LIC Housing Finance hit a 52-week low of Rs 362.
PNB Housing Finance on the other hand fell to a new 52-week low of Rs 540 on the NSE on Oct 9.
Some analysts say that value buying may emerge at lower levels, however, sentiments have taken a turn for the worse given the scam surrounding PMC Bank. This has also hit many smaller banking stocks. Most investors are now awaiting the results of some of the banks, HFCs and NBFCs to gauge the impact of the economic slowdown, liquidity issues and problems being faced by the sector.
