Latest News
-
Google CEO Sundar Pichai Terminates Over 20 Employees Amidst Internal Protests Over Israel; Reports -
Hidden Tata Group Stock To Pay Highest Rs 25/Sh Dividend Soon; Turns Rs 9,000 To Rs 9 Lakh In Long Term -
Gold Prices In US: Yellow Metal Rates Retreat As Middle East Tensions Ease; US Economic Data In Focus -
Sakuma Exports Secures Rs. 150 Cr Deal; Okays Rights Issue Amidst Positive Outlook -
Here Are Some Best All-Round Credit Cards Of 2024 Which Could Lead To Maximum Savings! -
Stock To Buy: Multibagger Tata Stock Hits 20% Upper Circuit, Gains 37.22% In 1-Week; TP Rs 1100 -
Closing Bell: Sensex, Nifty Extend Gains 3rd Day; India VIX Records Biggest Single Day Fall Since May 2019 -
Mutual Funds: 10 PSU Stocks Have Reduced Holdings -
Air India Joins Into Codeshare Pact With Japan's All Nippon Airways -
Razorpay Declares 'UPI Switch' In Partnership With Airtel Payments Bank
This Housing Finance Stock Can Give 16% Returns
Broking firm Geojit has placed a "buy" call on the stock of LIC Housing Finance with a price target of Rs 353 on the stock.
"LIC Housing Finance (LICHF) is one of the largest housing finance companies in India. It provides long-term finance to individuals, professionals and builders of residential flats and houses.
The company has a wide distribution network of 282 marketing offices. For Q1FY21, loans portfolio increased 6.1% YoY driven by Individual loan portfolio (+6.0% YoY) and Project loan (+7.5% YoY). Total disbursements stood at Rs. 3,561cr (-65.3% YoY). Net Interest Margin (NIM) for the quarter contracted 10bps to 2.32%. Net Profit rose 33.9% YoY to Rs. 817cr, owing to decline in provisions.
The expectation of economy to improve post lockdown, strong fundamentals, and new products will boost performance in near future. Hence, we reiterate our BUY rating on the stock with a revised target price of Rs.353 based on 0.8x FY22E BVPS," the brokerage firm has stated.
