Buy LIC Housing With Target Of Rs 219

Buy LIC Housing With Target Of Rs 219Technical analyst Rupal Saraogi has maintained 'buy' rating on LIC Housing Finance Limited stock to attain an intra-day target of Rs 219.

According to analyst, the stock can be purchased with a stop loss of Rs 202.

The stock of the company, May 04, closed at Rs 204.55 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 299.30 and a low of Rs 150.40 on BSE.

Current EPS & P/E ratio stood at 20.53 and 9.98 respectively.

LIC Housing Finance has rolled out a novel home loan product christened Freedom on a floating rate basis.

Under the plan, loaning amounts up to Rs 30 lakh would be provided at 9.9%, loans from Rs 30-lakh to Rs 75 lakh at 10.35% and loans worth Rs 75-lakh to Rs 1.5-crore can be available at 10.75%.

The plan will facilitate clients an option to switch to a fixed rate plan for 5 years after the disbursal of the initial loan sum.

The company also said that it has backed out its Advantage plan, on fears that it could be considered to be a teaser loan rate plan.

LIC Housing Finance's Chief Executive Officer, V K Sharma, stated, "It was not a teaser rate scheme. It would become a dual rate scheme after five years. We had sought a clarification from the regulator on it being a teaser rate scheme. Since we did not receive any clarification, we decided that it was better to withdraw the product."

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