Buy LIC Housing Finance With Stop Loss Of Rs 170
Technical analyst Somil Mehta of Sharekhan has maintained 'buy' rating on LIC Housing Finance Limited stock with a target of Rs 200.
According to analyst, the stock can be purchased with a stop loss of Rs 170.
The stock of the bank, on February 08, closed at Rs 178.25 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 299.30 and a low of Rs 142 on BSE.
Current EPS & P/E ratio stood at 18.40 and 9.75 respectively.
LIC Housing Finance recorded 39% increase in net profit, which stood at Rs 213.4 crore for the three month period ended December 2010.
The housing finance company had registered a net profit of Rs 153.5 crore in the third quarter of 2009.
The company's total income surged 59% to Rs 1,354.4 crore in the third quarter as against Rs 880.4 crore in the same period a year ago.
During the quarter under review, LIC Housing Finance approved loaning amounts worth Rs 5,785 crore and disbursed loans around Rs 4,626 crore, recording an increase of 28%.
Net Interest Income stood at Rs 352 crore as compared to Rs 228 crore for the same quarter of 2009, an increase of 55%.