LICHF on winning spree, scrip rise for third day in a row

LICHF on winning spree, scrip rise for third day in a row

Mumbai: Maintaining the gaining momentum for the third straight session, shares of LIC Housing Finance (LICHF) advanced by over 3% in the early trade on Bombay Stock Exchange (BSE), a day after the company posted 39% jump in its third quarter net profit.

Buoyed by the smart December quarter earnings, shares of LIC Housing Finance surged 3.46% to touch an early high of Rs176.30 a piece on the BSE.

The scrip has registered a gain of 12.28% in the last two trading sessions.

The shares saw a similar rise on the National Stock Exchange (NSE) and gained 3.58% to trade at Rs176.45 in the morning session.

LIC Housing Finance, which was hit by bribery-for-loan scam, on Wednesday reported 39% rise in its net profit at Rs213.4 crore for the third quarter ended December, 2010, against Rs153.5 crore in the year-ago period.

The rise in the LIC Housing Finance counter was significant as the broader benchmark Sensex was trading subdued at 18,891.55, down 86.77 points at 09:49 am.

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