LIC Housing Finance today continued its losses for the sixth consecutive session, with the scrip shedding over seven per cent in the early trade on BSE, hit by the EPFO's decision to suspend further investments in the company.
The government yesterday said the Employees Provident Fund Organisation (EPFO) will not invest any funds in the LIC Housing Finance, a subsidiary of the largest insurer Life Insurance Corporation (LIC), till the CBI inquiry in the bribes-for-loans scam is over.
LIC Housing scrip that has declined over 15 per cent in the last five trading sessions, started the day on a subdued note and plunged by 7.49 per cent to Rs 827.05 per piece on the Bombay Stock Exchange.
On the National Stock Exchange, the company scrip dipped 6.5 per cent to trade at Rs 828 in the morning session.
Meanwhile, the 30-share benchmark Sensex was quoting 203 points higher at 19,445.35 at 1125 hours.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app