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    Sell LIC Housing Finance, target price Rs 395.2 : ICICI Direct

    Synopsis

    LIC Housing Finance, incorporated in the year 1989, is a Large Cap company (having a market cap of Rs 22514.08 Crore) operating in NBFC sector.

    LIC Housing FinanceAgencies
    Promoters held 45.24 per cent stake in the company as of 30-Jun-2022, while FIIs owned 20.67 per cent, DIIs 19.21 per cent.
    ICICI Direct has sell call on LIC Housing Finance with a target price of Rs 395.2. The current market price of LIC Housing Finance is Rs 405.8.Time period given by analyst is Intra Day when LIC Housing Finance price can reach defined target. ICICI Direct recommended to keep stop loss at Rs 403.3.

    LIC Housing Finance, incorporated in the year 1989, is a Large Cap company (having a market cap of Rs 22514.08 Crore) operating in NBFC sector.

    LIC Housing Finance key Products/Revenue Segments include Interest, Income From Financial Services and Fees & Commission Income for the year ending 31-Mar-2022.

    Financials
    For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 5101.40 Crore, down -3.79 % from last quarter Total Income of Rs 5302.50 Crore and up 8.01 % from last year same quarter Total Income of Rs 4722.93 Crore. Company has reported net profit after tax of Rs 311.44 Crore in latest quarter.

    The company’s top management includes Mr.M R Kumar, Dr.Dharmendra Bhandari, Mr.Jagennath Jayanthi, Mr.V K Kukreja, Mr.Raj Kumar, Mr.Akshay Rout, Mr.P Koteswara Rao, Mr.Kashi Prasad Khandelwal, Mr.Ameet Patel, Mr.Ravi Krishan Takkar, Mr.Y Viswanatha Gowd, Mr.Sanjay Kumar Khemani. Company has Gokhale & Sathe as its auditors. As on 30-06-2022, the company has a total of 55 Crore shares outstanding.

    Investment Rationale
    Price close below 50 days EMA and breakdown lower band of the rising channel after weak pullback signalling continuation of the down trend.

    Promoter/FII Holdings
    Promoters held 45.24 per cent stake in the company as of 30-Jun-2022, while FIIs owned 20.67 per cent, DIIs 19.21 per cent.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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