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HomeNewsBusinessSell LIC Housing Finance at a target price of Rs 395.2, according...

Sell LIC Housing Finance at a target price of Rs 395.2, according to ICICI Direct

With a target price of Rs 395.2, ICICI Direct has issued a sell call on LIC Housing Finance NSE 1.47%. The LIC Housing Finance stock now has a market value of Rs 405.8. Analyst’s suggested time window is intraday, within which the price of LIC Housing Finance may hit the specified target. ICICI Direct advised maintaining a stop loss of Rs 403.3.

Interest, Income From Financial Services, and Fees & Commission Income are some of LIC Housing Finance’s primary products/revenue segments for the fiscal year ending March 31, 2022.

LIC Housing Finance is an NBFC that was founded in 1989 and is a Large Cap business with a market cap of Rs 22514.08 Crore.

Consolidated Total Income for the quarter ending September 30, 2022, reported by the company, was Rs. 5101.40 crore, down -3.79% from the previous quarter’s total income of Rs. 5302.50 crore and up 8.01% from the same period last year’s total income of Rs. 4722.93 crore. In the most recent quarter, the company achieved net profit after tax of Rs 311.44 crore.

Investment Justification
Price breaks the lower band of the ascending channel following a minor pullback, closing below the 50-day exponential moving average, indicating that the downtrend will continue.

The top executives of the company include 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 Gokhale & Sathe are the company’s auditors. The corporation had 55 Crore outstanding shares as of June 30, 2022.

Advertiser/FII Holdings
As of June 30, 2022, promoters owned 45.24% of the company, FIIs owned 20.67%, and DIIs owned 19.21%.

News Summary:

  • Sell LIC Housing Finance at a target price of Rs 395.2, according to ICICI Direct
  • Check all news and articles from the latest Business news updates.
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