LIC Housing drops 9% to lowest in 8 months after multiple block deals

  • Shares of LIC Housing Finance had plunged 14% in past five trading sessions
  • Reports indicated that some marque investors are likely to sell about 6.7% shares of LIC Housing Finance

Mumbai: LIC Housing Finance fell as much as 9.36% to 420.30 per share, its lowest in eight months after multiple block deals were struck in the counter today. Media reports indicated that some marque investors are likely to sell about 6.7% shares of LIC Housing Finance. Transaction was likely in the price range of 425.15 to 449.50 per share.

As on 30 June 2019, Fidelity Investment Trust held 3.41% stake in LIC Housing Finance. Bank Muscat India Fund held 2.278% stake and Government Pension Fund Global held 1.831% stake in the company.

Shares of LIC Housing Finance plunged 14.05% in five trading sessions to its current market price of 427.55, from a recent closing high of 489 on Wednesday, 14 August 2019.

On the BSE, 459.14 lakh shares were traded in the counter so far compared with average daily volumes of 66,000 shares in the past one quarter. The stock had hit a high of 437.15 and a low of 420.30 so far during the day.

The stock hit a 52-week high of 586.80 on 5 July 2019. The stock hit a 52-week low of 387.60 on 5 October 2018.

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