Valuation: The stock is currently trading at P/BV of 1.7X, P/E of 9.1X FY18E. Strong traction in loan book growth and healthy asset quality are amongst the key positives. With, wholesale rates benign, LICHF will be a key beneficiary. We maintain the target price at INR 574/share implying a P/BV of 2.3X on FY17E. We rate the stock an OUTPERFORMER....