Meanwhile, the BSE Sensex was up 330.15 points, or 3.9%, to 9,034.58.On BSE, 1.43 lakh shares were traded in the counter. The stock had an average daily volume of 1.38 lakh shares in the past one quarter.The stock hit a high of Rs 175.90 and a low of Rs 163.50 so far during the day. The stock hit a 52-week high of Rs 402.90 on 11 December 2007 and a 52-week low of Rs 159.20 on 20 November 2008.
The mid-cap stock had underperformed the market over the past one month till 25 November 2008, declining 10.38% as compared to the Sensex's decline of 0.06%. It had also underperformed the market in the past one quarter, declining 46.97% as compared to the Sensex's decline of 39.82%.
The company's current equity is Rs 84.99 crore. Face value per share is Rs 10.The current price of Rs 171 discounts the company's Q2 September 2008 annualized EPS of Rs 63.61, by a PE multiple of 2.68.
As per reports, LIC Housing Finance has lent small-ticket loans ranging from Rs 100-150 crore each to, at least, four national capital region (NCR) based realty firms in the past three months, even as banks were refusing to disburse even sanctioned loans as credit situation worsened for the real estate sector.
The entire real estate sector is going through a difficult phase, as sales have diminished and credit tightened. Developers might default on their loans due to weak demand. Many developers still need large cash to continue construction and pay for the land they earlier bought, even as earnings have dramatically slowed down.
LIC Housing Finance's total income rose 34.86% to Rs 707.72 crore in Q2 September 2008 over Q2 September 2007.The firm provides long-term finance to individuals for purchase/construction/repair and renovation of new/ existing flats/houses. The company also provides finance on existing property for business/personal needs and gives loans to professionals for purchase/construction of clinics/nursing homes/diagnostic centres / office space.
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