LIC Housing, Can Fin Homes slip 8% post Q2; HDFC at record high on Q2 hopes

Analysts believe that HDFC was able to gain the market share, especially from other HFCs and even smaller banks, due to its superior liability franchise and lower cost of fund

Shares of housing finance companies (HFCs) traded on a mixed note in Friday’s trading session with LIC Housing Finance and Can Fin Homes declining 8 per cent each after announcement of their July-September quarter (Q2FY22) results, housing finance giant Housing Development Finance Corporation (HDFC) hit a record high of Rs 2,937.75, up 3.3 per cent on the BSE. HDFC surpassed its previous high of Rs 2,895.35 touched on February 16, 2021.

Shares of LIC Housing Finance dipped 8 per cent to Rs 405 after the firm reported 68.7 per cent year on year (YoY) decline in its net profit