LIC Housing tumbles after multiple block deals

LIC Housing Finance fell 7.8% to Rs 427.55 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 on Thursday. The transaction was likely in the price range of Rs 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 12.56% in five trading sessions to its current market price of Rs 427.55, from a recent closing high of Rs 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 Rs 437.15 and a low of Rs 420.30 so far during the day.

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

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