COMPANY BACKGROUND [LIC Housing Finance]Incorporated in 1989, LIC Housing Finance is one of the largest housing finance companies in India providing long term finance for purchase, construction, repair and renovation of houses. The company also grants finance on existing property for business and personal needs and also to professionals for purchase or construction of Clinics, Nursing homes, Diagnostics Centres, Office Spaces and also purchase of equipments. LIC Housing possesses one of the industry's most extensive marketing networks with 13 back offices, 181 marketing units, 773 direct sales agents, 3400 home loan agents and 615 customer relationship associates. It has also set up representative offices in Dubai and Kuwait to cater services to Non-Resident Indians. Till date, LIC `Housing has given financial assistance to over 10 lacs home owners.
LIC Housing came out with an IPO in 1994 and launched it maiden GDR in 2004. The company holds 100% stake in LIC Housing Finance Ltd Care Homes and LIC Housing Financial and Services.
Shares of LIC Housing were split from the face value of Rs 10 into five equity shares having nominal value of Rs 2-/ share. >>> More >>>
Weekly Beeps 28-05-2011 :
We have witnessed a bizarre trend in the last four weeks with the key indices ending the week higher after falling in the early part of the week. This week was no different. But overall, the sideways consolidation seems to be the order of the day as market players remain clueless on the near-term prospects. For the moment, the trading range on the Nifty is seen between 5300 and 5600. A decisive breakout of this range may not materialise for a while given the lack of big triggers. So, brace for the continuation of the current lackluster pattern in the short-term. Monsoon is the next important event on the domestic calendar. Next month's EGoM on fuel prices will also have some bearing on the sentiment. Inflation remains the biggest problem area.
On the external front, there are a few troubled spots. Eurozone needs to sort out its debt issues while the US must decide the next course of action once the QE2 ends in June. China, like other EMs, is likely to tighten monetary policy further to rein in inflation. It would be interesting to see how fund flows behave in the absence of QE2. If, global commodity prices soften a bit more, it will be a positive for India. One must also keep a close eye on the trend in FII flows.
The US markets will be shut on Monday for the Memorial Day holiday. Among the global data points to track will include manufacturing PMI reports, vehicle sales and the US jobs data. Back home, the Government will come out with the GDP data for the January to March quarter on May 31st.
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