LIC Housing Finance drops on profit booking after announcing Q2 result

LIC Housing Finance fell 1.29% to Rs 608 at 15:22 IST on BSE after net profit rose 20.16% to Rs 494.76 crore on 12.97% growth in total income to Rs 3489.91 crore in Q2 September 2016 over Q2 September 2015.

The result was announced during market hours today, 20 October 2016.

Meanwhile, the S&P BSE Sensex was up 145.40 points or 0.52% at 28,128.98

On BSE, so far 5.07 lakh shares were traded in the counter as against average daily volume of 2.47 lakh shares in the past one quarter. The stock hit a high of Rs 624 so far during the day, which is record high for the counter. The stock hit a low of Rs 606.70 so far during the day. The stock hit a 52-week low of Rs 389 on 25 February 2016. The stock had outperformed the market over the past 30 days till 19 October 2016, rising 8.24% compared with 1.89% decline in the Sensex. The scrip also outperformed the market in past one quarter, gaining 22.55% as against Sensex's 0.99% rise.

The large-cap company has equity capital of Rs 100.93 crore. Face value per share is Rs 2.

Shares of LIC Housing Finance had witnessed pre-result upmove, gaining 6.61% in two trading days to settle at Rs 615.95 yesterday, 19 October 2016 from its close of Rs 577.75 on 17 October 2016.

LIC Housing Finance is a housing finance company. LIC of India holds 40.31% stake in the firm as on 30 September 2016.

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