Buy LIC Housing Finance, target price Rs 520: Motilal Oswal

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Buy LIC Housing Finance, target price Rs 520:  Motilal Oswal


Motilal Oswal has buy call on with a target price of Rs 520. The current market price of LIC Housing Finance Ltd. is Rs 448.8.

LIC Housing Finance Ltd., incorporated in the year 1989, is a Large Cap company (having a market cap of Rs 22596.29 Crore) operating in NBFC sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated sales of Rs 4911.03 Crore, down 1.33 % from last quarter Sales of Rs 4977.34 Crore and down 1.88 % from last year same quarter Sales of Rs 5005.36 Crore. Company reported net profit after tax of Rs 721.11 Crore in latest quarter.


Investment Rationale
The brokerage estimates ~1.4%/15% RoA/RoE over the next two years. Maintain Buy, with a TP of INR520/share (1x FY23E BVPS).


Promoter/FII Holdings
Promoters held 40.3 per cent stake in the company as of Dec 30, 2020, while FIIs held 29.3 per cent, DIIs 17.9 per cent and public and other 29.3 per cent.





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