GIC Housing Finance drops on profit booking

GIC Housing Finance lost 2.57% to Rs 484.55 at 15:09 IST on BSE on profit booking after gaining 36.78% in the preceding five trading sessions to settle at Rs 497.35 yesterday, 10 April 2017, from its close of Rs 363.60 on 31 March 2017.

Meanwhile, the S&P BSE Sensex was up 215.30 points, or 0.73%, to 29,791.04. The S&P BSE Small-Cap index was up 142.07 points, or 0.96%, to 14,918.10

On BSE, so far 1.39 lakh shares were traded in the counter, compared with an average volume of 38,842 shares in the past one quarter. The stock hit a high of Rs 515 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 473.25 so far during the day. The stock hit a 52-week low of Rs 233 on 8 April 2016.

The stock had outperformed the market over the past one month till 10 April 2017, rising 64.47% compared with 2.17% rise in the Sensex. The scrip, also outperformed the market in past one quarter, surging 85.58% as against Sensex's 9.95% rise.

The small-cap company has an equity capital of Rs 53.85 crore. Face value per share is Rs 10.

GIC Housing Finance's net profit rose 12.55% to Rs 34.43 crore on 13.61% growth in total income to Rs 253.07 crore in Q3 December 2016 over Q3 December 2015.

GIC Housing Finance provides housing loans to both individuals and corporations.

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