April 23, 2018 / 3:58 AM / 3 months ago

BUZZ-Indiabulls Housing Finance rises on strong Q4 profit

** Indiabulls Housing Finance Company’s shares gain as much as 2.1 pct to 1,385 rupees ($20.93)

** March-qtr profit rises 22 pct to 10.30 bln rupees ($155.72 mln), co said on Friday

** Loan growth of 34 pct led by retail home loans and incipient signs of uptick in corporate demand, Macquarie analysts write in a note, maintaining ‘outperform’ with PT of 1,599 rupees

** Asset quality largely remains under control, and co has seen healthy profit growth despite conservative provisioning, Credit Suisse analysts write in a note, raising PT to 1,600 rupees; maintains ‘outperform’ rating

** Nine of 13 brokerages rate the stock “buy” or higher, three “hold” and one “sell” or lower; their median PT is 1,523.50 rupees

$1 = 66.1450 Indian rupees

0 : 0
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