Sharekhan's research report on LIC Housing Finance
LIC Housing Finance (LICHF) reported weak numbers in Q1FY2020 with a marginal pickup in disbursement. Asset quality worsened and LICHF saw a sequential rise in delinquencies (with stage 3 exposure at default (EAD)) at 1.98%. Though current valuations are modest, we believe that the stock has a limited upside given multiple headwinds.
Outlook
Hence, we maintain our Hold recommendation with a revised price target (PT) of Rs. 500.
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