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

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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.

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

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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