Daily Brief India: Maithan Alloys, LIC Housing Finance and more

Key points (machine generated)

• Maithan Alloys is a leading manufacturer of Manganese (Mn) alloys used in the production of hardened steel.
• The company operates three plants in India and recently acquired a fourth, indicating its growth and expansion in the industry.
• India, where Maithan Alloys is based, is the largest exporter of Mn alloys in the world, providing 25% of global imports, and maintains its position as a low-cost supplier despite structural disadvantages.

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• LIC Housing Finance (LICHF) reported a strong Q3FY24 on the back of a strong NIM. Growth, however, has been tepid as LICHF recently transitioned its technology and organizational structure.
• FY24 has been a consolidation year due to technology and organizational changes; however, LICHF is setting up well to post strong growth in FY25.
• Among other things, affordable housing is going to be a key growth area going forward. Asset quality has been also improving and should further normalize with recoveries and upgradations.