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LIC Housing Finance: LICHF makes preferential allotment to LIC
` Preferential allotment and QIP will considerably increase capitalization
` Strong traction to continue in FY2013E
http://www.kotaksecurities.com/pdf/indiadaily/indiadaily22032012.pdf
LICHF makes preferential allotment to LIC. LICHF’s preferential allotment to LIC and
proposed QIP will likely increase LICHF’s net worth by about 35%. While the deals add
Rs20/share to the book value, high infusion will bring down medium-term RoE to 20%
from 23%. We remain positive on the strong business traction at LICHF, but the stock
provides moderate upside from the current levels. Retain ADD with target price of
Rs290 (Rs270 earlier).
Visit http://indiaer.blogspot.com/ for complete details �� ��
LIC Housing Finance: LICHF makes preferential allotment to LIC
` Preferential allotment and QIP will considerably increase capitalization
` Strong traction to continue in FY2013E
http://www.kotaksecurities.com/pdf/indiadaily/indiadaily22032012.pdf
LICHF makes preferential allotment to LIC. LICHF’s preferential allotment to LIC and
proposed QIP will likely increase LICHF’s net worth by about 35%. While the deals add
Rs20/share to the book value, high infusion will bring down medium-term RoE to 20%
from 23%. We remain positive on the strong business traction at LICHF, but the stock
provides moderate upside from the current levels. Retain ADD with target price of
Rs290 (Rs270 earlier).
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