India's Repco Home surges as analysts see strong growth prospects post earnings

Repco Home Finance

30/05/2023 09:50

** Shares of Repco Home Finance Ltd  RHFL.NS  surge as much
as 13.88% to a six-month high of 265 rupees
    ** Housing finance co reported net profit that nearly
doubled Y/Y in March quarter to 821 mln rupees, post market
hours on Friday 
    ** Stock gained 8.41% on Monday
    ** Relative strength index of the stock is 77, suggesting it
may be overbought
    ** Lower-than-expected provisioning, improvement in asset
quality, rising collection efficiency augur well for RHFL, says
HDFC Securities, reiterates "add" recommendation
    ** Expect net interest margin (NIM) to be stable at 4.7% in
FY2024 and FY2025, says Phillip Capital
    ** Adds risk-reward appears favourable at current valuations
    ** Stock is most active in eight months with a trading
volume of 3 mln shares as of 2:08 p.m. IST, more than nine times
the 30-day avg - Refinitiv data
    ** Of the 11 analysts tracking RHFL, eight maintain "buy"
and three suggest "hold"; median TP is 300 rupees


 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))