January 24, 2018 / 5:11 AM / 6 months ago

BUZZ-India's housing finance firms gain on strong Q3 results

** Indiabulls Housing Finance Ltd gains as much as 2.2 pct to a record high of 1,409.80 rupees

** PNB Housing Finance Ltd climbs as much as 2.9 pct to 1,339 rupees

** Indiabulls Housing posted a 55.4 pct jump in Dec-qtr consol profit, while PNB Housing said its quarterly profit surged about 58 pct bit.ly/2n61jjh

** Stable Q3 performance by Indiabulls Housing is a positive surprise in a challenging rate environment; maintains “neutral” rating and price target at 1,400 rupees - Nomura

** Strong loan growth, branch expansions, balanced asset mix and competitive pricing should drive 33 pct loan CAGR over the next two years for PNB Housing; maintains “buy” rating and price target at 1,740 rupees - Jefferies

** Up to Tuesday’s close, Indiabulls Housing stock up about 83 pct in the past one year, while PNB Housing gained about 57 pct

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