GDR plan lifts LIC Hsg, stock ends lower

DALAL STREET SPIKES

LIC Housing Finance hit a high of Rs 207 before closing at Rs 198.85, down by 1.92 per cent, on profit booking, in sync with the overall market. More than 1.54 lakh shares were traded on the BSE.

The counter moved up on reports that the company is planning an overseas listing. The company is said to have announced plans to increase its capital base through a GDR issue.

In fact, LIC Housing Finance has informed BSE the decision of its board of directors in respect of issuance of fresh equity shares.