Buy Indiabulls Housing Finance, target Rs 240: CK Narayan

CK Narayan of Chart Advise has a buy call on Indiabulls Housing Finance Ltd. with a target price of Rs 240. The current market price of Indiabulls Housing Finance Ltd. is Rs 237.55 CK Narayan recommended to keep stoploss at Rs 225. Indiabulls Housing Finance Ltd., incorporated in 2005, has a market cap of Rs 9904.75 crore.

Indiabulls Housing Finance Ltd. key Products/Revenue Segments include Interest which contributed Rs 13538.10 Crore to Sales Value (87.86 % of Total Sales), Income From Sale Of Share & Securities which contributed Rs 616.78 Crore to Sales Value (4.00 % of Total Sales), Income From Financial Services which contributed Rs 609.13 Crore to Sales Value (3.95 % of Total Sales), Dividend which contributed Rs 385.12 Crore to Sales Value (2.49 % of Total Sales), Other Operating Revenue which contributed Rs 162.94 Crore to Sales Value (1.05 % of Total Sales), Fees & Other Charges which contributed Rs 62.64 Crore to Sales Value (0.40 % of Total Sales) and Commission which contributed Rs 32.64 Crore to Sales Value (0.21 % of Total Sales)for the year ending 31-Mar-2019.

For the quarter ended 30-09-2019, the company has reported a Consolidated sales of Rs 3419.54 Crore, down -11.98 % from last quarter Sales of Rs 3884.99 Crore and down -14.09 % from last year same quarter Sales of Rs 3980.39 Crore Company has reported net profit after tax of Rs 702.18 Crore in latest quarter. The company’s top management includes Justice(Retd)Gyan Sudha Misra, Mr.Ajit Kumar Mittal, Mr.Ashwini Omprakash Kumar, Mr.Gagan Banga, Mr.Prem Prakash Mirdha, Mr.Sachin Chaudhary, Mr.Sameer Gehlaut, Mr.Satish Chand Mathur, Mr.Shamsher Singh Ahlawat, Mr.Subhash Sheoratan Mundra. Company has S R Batliboi & Co. LLP as its auditors. As on 30-09-2019, the company has a total of 427,574,091 shares outstanding.