Buy LIC Housing Finance: target of Rs 440: Sharekhan

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Sharekhan's research report on LIC Housing Finance

LIC Housing Finance (LICHF) is an attractive player in the housing mortgage market, with high credit ratings (margin support), improving disbursements and better collections efficiency. Home loan disbursements are improving, recovered to normalized levels during Q2, and the recent healthy demand augurs well for the home finance market as well. We have fine-tuned our estimates and believe the outlook for LICHF has improved; valuations at 1.05x/0.91x its FY2022E and FY2023E BVPS are reasonable considering its high return ratios and stable asset quality.

Outlook

We maintain our Buy rating on the stock with a revised PT of Rs. 440.

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