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REPCO Home Finance - Reaping the benefits of serving the underserved: Angel Broking

Posted On: 2017-03-04 23:55:02

Views of Mr. Siddharth Purohit (Sr. Equity Research Analyst - Banking, Angel Broking):

"REPCO Home Finance is a midsized Housing Finance Company (HFC), with focus on the underserved self-employed segment. While the current operations of the company are predominately concentrated in Southern market (90%), the management intends to gradually venture into other geographies over the next 5 years. The target segment of REPCO is highly underserved and this offers a growth potential for many years going ahead. Unlevered balance sheet and stable NIM coupled with controlled credit cost should result in 26% earnings CAGR over FY2016-19E. At the CMP the stock is trading at 2.7x it FY2019 ABV. We have valued the stock at 3.5x its FY2019E ABV and Recommend BUY with a Target Price of INR 825 over the next 12 months."

Shares of REPCO HOME FINANCE LTD. was last trading in BSE at Rs.642 as compared to the previous close of Rs. 648.1. The total number of shares traded during the day was 90679 in over 447 trades.

The stock hit an intraday high of Rs. 652.75 and intraday low of 641. The net turnover during the day was Rs. 58367560.


Source: Equity Bulls

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