LIC Housing Finance surges on buzz of planning to step up project finance lending
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LIC Housing Finance is currently trading at Rs. 374.70, up by 4.70 points or 1.27% from its previous closing of Rs. 370.00 on the BSE.
The scrip opened at Rs. 371.00 and has touched a high and low of Rs. 376.05 and Rs. 369.05 respectively. So far 100953 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 542.35 on 11-Jun-2021 and a 52 week low of Rs. 321.20 on 07-Mar-2022.
Last one week high and low of the scrip stood at Rs. 376.05 and Rs. 331.05 respectively. The current market cap of the company is Rs. 20630.11 crore.
The promoters holding in the company stood at 45.24%, while Institutions and Non-Institutions held 39.26% and 15.50% respectively.
LIC Housing Finance is reportedly planning to step up project finance lending and increase the share of such disbursements to 10 per cent in 2022-23 (FY23), from the present-day 5 per cent.
On the project loan side, in the first half of 2021-22 (FY22), activities were not in full swing. Also, business was impacted by the third wave in the second half of FY22. Now the business environment is clear. There may be a drawal of money for existing projects. Plus, there is a pipeline of projects being considered in excess of Rs 1,000 crore. With this, the company will take the share of project finance from 5 per cent to 10 per cent in incremental business in the current year.
LIC Housing Finance is one of the largest Housing Finance Company in India. The main objective of the company is providing long term finance to individuals for purchase or construction of house or flat for residential purpose / repair and renovation of existing flat / houses.
