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    Repco Home soars 62% in 5 days, analysts see more legs to the stock rally

    Repco Home soars 62% in 5 days, analysts see more legs to the stock rally

    Repco Home soars 62% in 5 days, analysts see more legs to the stock rally
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    By Dipti Sharma   IST (Published)

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    Repco Home: Shares of Repco Home Finance jumped as much as 10 percent on Monday as the UK-based asset management firm Omnis Portfolio Investments bought stake in the company. The stock has been gaining for the last five days and has soared 62 percent during the period.

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    Buy / Sell Repco Home share

    Shares of Repco Home Finance jumped as much as 10 percent on Monday as the UK-based asset management firm Omnis Portfolio Investments bought a stake in the company.
    The investment firm bought 4,76,998 equity shares of the Chennai-based housing finance company at an average price of Rs 232.4 per share, which is a 6 percent discount from the previous close of Rs 247.25.
    At 11:14 am, shares of the company were trading 2.2 percent higher at Rs 252.8 on the BSE. Earlier today, Repco Home Finance was the top gainer on the Nifty500 index.
    The stock has been gaining for the last five days and has soared 62 percent during the period.
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    The loan sanctions and disbursements recorded good growth during the fourth quarter of the last fiscal.
    The non-banking finance company expects loan book growth of 10-11 percent in FY23, which should take its assets under management to around Rs 130 billion.
    ICICI Securities has maintained its ‘buy’ recommendation with an unchanged target price of Rs 470 on shares of Repco Home Finance. This is almost double the current market price.
    Meanwhile, Kkunal Parar, Vice-President of Research at Choice Broking, believes the risk-reward is not favourable currently.
    After the stellar rally in past days, a fall of up to Rs 210 would offer a good point to enter the stock, Parar said. He sees the stock gaining another 25 percent from the current market price to Rs 315.
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