Blue Chip HFCs PNB Housing, LIC Housing Shares Slump To 52-Week Lows

Bluechip Housing Finance companies, including the likes of LIC Housing Finance and PNB Housing Finance have slumped to 52-week lows.

Worries over a slowdown in the real estate sector, along with a tepid growth scenario have led to a slump in these stocks.

LIC Housing Finance dropped, to a new 52-week low of Rs 362.10, while PNB Housing Finance which was down almost 5 per cent in trade, hit a new 52-week low of Rs 478.

Analysts remain worried over growth in the sector, which is why there has been a virtual crash in HFC stocks. Last week, India Bulls Housing Finance shares too dived to a 52-week low of Rs 177.

Some of these stocks, if they maintain their dividends, become attractive even in terms of their dividend yields. IndiaBulls housing board is slated to meet today to consider a buyback of shares. The company did not get a merger approval from the RBI last week.

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