Buy LIC Housing Finance, target price Rs 470: Yes Securities

Yes Securities has buy call on with a target price of Rs 470. The current market price of LIC Housing Finance is Rs 429.9.

Time period given by analyst is Intra Day when LIC Housing Finance Ltd. price can reach defined target.

LIC Housing Finance Ltd., incorporated in the year 1989, is a Large Cap company (having a market cap of Rs 21735.84 Crore) operating in NBFC sector.

LIC Housing Finance Ltd. key Products/Revenue Segments include Interest, Income From Financial Services and Fees & Commission Income for the year ending 31-Mar-2020.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 4867.22 Crore, down -2.26 % from last quarter Total Income of Rs 4979.91 Crore and down -2.38 % from last year same quarter Total Income of Rs 4986.01 Crore. Company reported net profit after tax of Rs 151.07 Crore in latest quarter.

Investment Rationale
Bulls have regained momentum on the upside, forming a sizable bullish candle. As the stock closed above its 50-day average, sustenance at current levels could mean a shift of band on upside and a possible short term rally towards the Rs 465 zone.

Promoter/FII Holdings
Promoters held 40.3 per cent stake in the company as of June 30, 2021, while FIIs held 28.8 per cent, DIIs 15.6 per cent and public and others 15.3 per cent.