LIC Housing Finance shares jumped over 2 per cent in early trade on Monday.
At 10.50 am, the stock was off its day’s highs at Rs 442.75, up 1.43 per cent or Rs 6.25.
The company reported a 5.2 per cent increase in its Jan-March net profit. Sharp decline in borrowing costs will help the company weather strong competition in housing finance and sustain market share gains, according to Kotak Securities.
“We expect the company to deliver 18-19 per cent RoE and 19-20 per cent medium-term earnings growth on the back of 19 per cent loan growth, Kotak added.