GIC Housing Finance gains as mutual fund hikes stake

GIC Housing Finance advanced 4.45% to Rs 207.65 at 14:39 IST on BSE after Reliance Mutual Fund hiked its stake in the company by acquiring 7.80 lakh shares yesterday, 15 December 2015.

Meanwhile, the S&P BSE Sensex was up 213.14 points or 0.84% at 25,533.58

On BSE, so far 50,330 shares were traded in the counter as against average daily volume of 39,463 shares in the past one quarter.

The stock hit a high of Rs 208.90 and a low of Rs 204.25 so far during the day. The stock had hit a 52-week low of Rs 161 on 25 August 2015. The stock had hit a record high of Rs 287.25 on 19 January 2015.

The stock had underperformed the market over the past one month till 15 December 2015, falling 5.24% compared with Sensex's 1.13% fall. The scrip, however, outperformed the market in past one quarter, gaining 9.77% as against Sensex's 1.5% fall.

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

Reliance Capital Trustee Co A/C Reliance Tax Saver (ELSS) Fund bought 5 lakh shares of GIC Housing Finance at an average price of Rs 199 per share in a bulk deal on the BSE yesterday, 15 December 2015. Additionally, Reliance Mid & Small-Cap Fund bought 2.80 lakh shares of the company at an average price of Rs 199 per share in a bulk deal on the NSE yesterday, 15 December 2015.

Reliance Capital Trustee Co owned 16.41 lakh shares or 3.05% stake in GIC Housing Finance (as per the shareholding pattern as on 30 September 2015).

GIC Housing Finance's net profit rose 15.3% to Rs 29.79 crore on 20.6% growth in total income to Rs 215.55 crore in Q2 September 2015 over Q2 September 2014.

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

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