LIC Housing Finance share price target, LIC Housing Finance share price: LIC Housing Finance shares on Thursday, May 16 edged higher in morning deals on NSE, a day after the Mumbai-headquartered housing finance company staged a mixed Q4 performance. The NBFC stock rose as much as 4.1 per cent to the day's high of Rs 657.15 on NSE. The counter closed at Rs 655.8, up 3.93 per cent on NSE.

LIC Housing Finance Q4 Results

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LIC Housing Finance posted a 7.5 per cent decline in its profit at Rs 1,091 crore in the fourth quarter ended in March 2024. The Mortgage financier's total income increased to Rs 6,937 crore during the quarter under review against Rs 6,415 crore in the same period last year, LIC Housing Finance's regulatory filing said.

The interest income of the company rose to Rs 6,888 crore as against Rs 6,378 crore in the fourth quarter of previous year.

Concerning asset quality, LIC Housing Finance witnessed improvement with gross non-performing assets (NPAs) to 3.31 per cent from 4.41 per cent at the end of March 2023. The net NPA of the company too declined to 1.43 per cent from 2.5 per cent compared to March 2023. Read more on LIC Housing Finance Q4 results

LIC Housing Finance share price target: Brokerages upbeat

Jefferies has maintained a buy call on LIC Housing Finance with a target of Rs 740 apiece, the highest among its peers, implying an upside move of 17.2 per cent from the previous close. Nomura too has retained a buy on the NBFC stock with a target of Rs 710 apiece. 

Morgan Stanley has maintained an equal-weight rating and a target of Rs 585 apiece. Macquarie has maintained an outperform call with a target of Rs 650 apiece. Meanwhile, CLSA has maintained an accumulate rating on the LIC Housing Finance stock with a target of Rs 725 apiece.

LIC Housing Finance dividend

The board recommended a dividend of Rs 9 per share of face value of Rs 2, i.e., a 450 per cent payout for the financial year 2023-2024.

(with PTI Inputs)

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