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BUZZ-India's Repco Home Finance hits 2-mth high on strong Q2
November 14, 2017 / 4:55 AM / a month ago

BUZZ-India's Repco Home Finance hits 2-mth high on strong Q2

** Repco Home Finance Ltd surges as much as 14.1 pct to 676 rupees ($10.34), its highest since Sept. 14

** Housing finance co posted an about 22 pct rise in Sept quarter net profit, to 558.7 mln rupees ($8.55 mln)

** Stock posts biggest intra-day pct gain since July 2013

** More than 1.4 mln shares trade, compared with their 30-day avg of 232,000 shares

** Repco reported Q2 PAT 9 pct ahead of our estimates. Stronger than expected spreads, mainly due to better than expected yields led to the result beat - Jefferies

** Jefferies maintains “hold” rating and target price of 585 rupees

** Thirteen of 18 brokerages rate the stock “buy” or higher, three “hold” and two “sell” or lower; their median PT is 800 rupees - Thomson Reuters Eikon data ($1 = 65.3750 Indian rupees) ($1 = 65.4000 Indian rupees)

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