Repco Home Finance

Shares of LIC Housing Finance today slipped below the 200-WMA after falling over 10 per cent. Now, four out of five leading housing finance stocks are trading below the 200-WMA.

Analysts warn that housing finance companies (HFCs), which cater largely to affordable housing segment, may see some margin erosion

Repco Home Finance on Friday said it has clocked standalone profit of Rs 80.80 crore during the quarter ending September 30, 2020.

Trading calls by Jay Anand Thakkar, CMT -Assistant Vice President - Equity Research, Anand Rathi Shares and Stock Brokers

Total income grew 13.35 per cent to Rs 335.53 crore during the quarter as against Rs 296 crore in the same quarter last year

Yashpal Gupta, who has 25 years in banking, replaces R Varadarajan, who retired at the end of December 2018

Post the sale, stake of Pabrai Investment Funds II and persons acting in concert in Repco Home Finance stands at 4.31 per cent

The stock slipped 4% to Rs 327 on Friday in early morning , extending its yesterday's 4% fall, after Pabrai Investment Fund IV LP sold 948,535 shares at an average market price of Rs 335.87 per share.

The assets quality of the company worsens sequentially with the gross non-performing assets (NPAs) rose to 3.7% as of Q3FY18 against 3.4% as of Q2FY18

The stock surged 14% to Rs 671 on the BSE in early morning trade after the company reported 22% growth in net profit at Rs 56 crore in Q2FY18.

The stock dipped nearly 8% to Rs 672 on the BSE.

The stock dipped 7.8% to Rs 760 on the BSE in intra-day trade on back of heavy volumes.

Sources from the company said that the issue is related to a Rs 6 crore loan taken by Coimbatore-based Divya Agency

Stock of the company traded 1.34 per cent down at Rs 805 on BSE

Share of the company closed 4.42 per cent down at Rs 813.25 on BSE

However, company's loan book also increased by 25% to Rs 7,959 crore

The fund will be utilised to finance its proposed housing projects