Finance > Corporate FinanceMargin worries for housing finance cos may bring cuts in target prices Posted by anuragmishra in Finance on January 4th cheap air max 95 , 2017
Shares of housing finance companies have been laggards since demonetization, but investors might not be tempted to buy them yet as their margins are seen under pressure with top lenders, led by State Bank of India (SBI), unleashing a rate cut war. Morgan Stanley and Credit Suisse on Tuesday slashed their target prices on LIC Housing Finance by 20% and 7.5%, respectively, following the cut in a key lending rate by banks.
Housing finance company shares ended the trading session with a fall of up to 2%. Extending Monday's fall of 5% http://www.cheapairmax95outlet.com/ , LIC Housing Finance fell another 2% during the day. But, the stock recovered to end up 0.1% at Rs 530.75.
“The space will get more competitive with banks leading the price war and focusing on the housing segment since corporate lending is not picking up,“ said Sanjiv Bhasin, executive VP-market and corporate affairs at IIFL.
Margin worries for housing finance cos may bring cuts in target prices Margin worries for housing finance cos may bring cuts in target prices - Image
Morgan Stanley downgraded LIC Housing to equal-weight from overweight stating that the company, like others in the space, could see loan pricing pressures or higher prepayments. Starting with State Bank of India on Sunday cheap air max 95 kids , lenders have cut Marginal Cost-based Lending Rates (MCLR) steeply, by up to 90 basis points.
Post market hours on Tuesday, HDFC reduced its home loan rates.
“We assume half of the home loan book will re-price by 75 bps in the near term, given the size of lending rate cuts. While we need to watch if this risk materializes, this concern is likely to keep the stock under pressure,“ said Morgan Stanley .
Stocks of housing finance companies have fallen anywhere between 12% and 22% since November 8 -when the Rs 500 and Rs 1 cheap air max 95 womens ,000 denomination notes were demonetized. In the one-year period prior to demonetization, these stocks had given stellar returns of 12% to 53% as in vectors bet on the bright prospects of the housing finance segment.
Within the housing finance space, there are some companies such as Gruh Finance and Repo Home Finance which would not be impacted as much by the negative sentiment.
“It (lending rate cuts) is bad for HFCs like LIC Housing that directly compete with banks in this segment, but there are smaller players who will benefit as they will see funding costs coming down because of this and they don't compete with banks also in this segment,“ said Pankaj Agarwal, head of financial research cheap air max 95 mens , Ambit Capital.
However, some said they don't see LIC Housing being hit as badly. “For LIC, the negative news is in the price, “said Bhasin. LIC is down 3% since demonetization -the least among housing finance companies.
{Source: }
If you’re a group, organization or business and would like to create some buzz about an upcoming event or offer, then custom t-shirt printing is a great choice for doing so. Marketing today has become even more reliant on branding than before. It’s not always enough to print out flyers or buy ad time if you want to reach a wider audience. There are many reasons why getting your own custom designed t-shirts is a good marketing choice and today cheap air max 95 free shipping , it’s easier than ever to order online and you should to.
The world today is all about individual style, individual choices and individual clothes. Custom t-shirts designed by everyone is moving trough the creative fields like an avalanche. With a custom t-shirt, everyone from your neighbors garageband to the small business owner can create their own brand and promote it, simply by wearing it and so making it part of their identity.
It’s now cheaper than ever to get custom printing done. This is mostly because of the online print shops, which can save money on stock and staff, because they run their business online. Custom t-shirt printing is no different. The price is low cheap air max 95 shoes , shipping is cheap, as low as a few dollars for smaller orders and no more than $20 for bulk orders. You simply can’t do better than that in the brick and mortar print shops.
SAN FRANCISCO, Nov. 22 (Xinhua) -- Boeing and Okay Airways, one of China's first privately-owned airlines, said on Wednesday that they finalized an order for five Boeing 787-9 Dreamliners on Wednesday, with which Okay Airways will expand its long-haul services.
The deal was made at Boeing Commercial Airplanes headquarters in Seattle cheap air max 95 outlet , Washington State, worth 1.4 billion U.S. dollars at list prices.
"We are committed to investing in our aircraft fleet in order to keep growing ahead of the market and enhancing our customers' flying experience," said Li Zongling, president of Okay Airways which is headquartered in Beijing with its main hub at Tianjin Binhai International Airport.
"Today's order for the all-new, super-efficient 787-9 Dreamliners will strengthen Okay's position to expand into the long-haul market with the best products in its class," Li said.
Boeing Commercial Airplanes Global Sales and Marketing Senior Vice President Ihssane Mounir said: "We value our longstanding partnership with Okay Airways and look forward to delivering these airplanes to support their international expansion plan."
Okay Airways' current all-Boeing jetliner fleet includes 737s cheap air max 95 china , serving more than 70 domestic and regional destinations, while the 787-9 Dreamliner can fly 290 passengers up to some 14,000 km.