Stock in focus: How far will Home First rally?

Stock in focus: How far will Home First rally?

by 5paisa Research Team Last Updated: Dec 13, 2022 - 03:16 am 44.6k Views
Listen icon

Home First Finance Company India Limited is an India-based housing finance company.

The company is a technology-driven lender that provides loans to customers from low and middle-income groups. It is a midcap company with a market cap of Rs 7,140 crore. The company has strong financials and has reported higher than industry average revenue growth and industry average net income over the period of five years. The strong business practices attract investors, and it is evident from the stock price.

The stock debuted on the exchange in the month of February and it was listed at Rs 618 which is about 100 points above the IPO price. That is about a 19% listing gain. The stock received a bumper listing and thereafter it has gone from strength to strength and now has reached the level of Rs 843. That is about 62% gain from its issue price. In the last three months, the stock has delivered 45.41% returns, among which 15.26% returns were recorded last month alone. This shows that the stock is going strong since its listing. Interestingly, the majority of the stake is being held by foreign investors (49.25%) and the promoters hold 33.65%. The rest is being held by the retail portion.

It has been observed that the stock is trading above its 20-DMA since September 23. This proves its short-term bullishness. The RSI is at 67 and rising. It is forming a 6-day cup pattern and any closing above Rs 857 would mean that the stock has the potential to scale newer highs. The ADX line is rising which tells that the uptrend is going strong. Rising volumes have been recorded since the last few trading sessions. The price action, combined with volume, indicates that market participants are interested in this stock and more trading activity is expected in the coming days.

With all the technical parameters showing signs of bullishness, the stock is expected to trade higher in the short to medium term.

Share Market Today

How do you rate this article?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage


About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

Enjoy 0%* Brokerage with 5paisa
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
Teerth Gopicon IPO Debut with 12.6% Premium Opening at ₹125, Setting a Positive Tone

Teerth Gopicon IPO were floated for ₹125 on the NSE SME platform on April 16, representing a 12.6% premium over the issue price of ₹111.Gains were broadly consistent with the gray market, where the share was trading at ₹127 before of the IPO. The term "grey market" refers to unofficial, over-the-counter trading in securities before they are listed on exchanges.

Jefferies' Prediction for Bharati Hexacom: 'Double Your Money in a Year'

Jefferies is bullish on Bharti Hexacom, a Bharti Airtel group company, citing its strong growth prospects and healthy margin expansion.

Jio Financial Services Up 5% After BlackRock Joint Venture Announcement

Jio Financial Services Ltd witnessed a sharp rise in today's trading session following its announcement of a collaboration with BlackRock, a non-banking financial company (NBFC). The stock surged by 4.90 percent, reaching a day high of ₹371.75.