Stocks

LIC Housing Fin shares rise to record high after block deal

Reuters | Updated on January 17, 2018 Published on July 11, 2016

Shares of LIC Housing Finance Ltd rose to record high of Rs 529.9, after 2.68 million shares changed hands in a single block deal on the BSE at Rs 520.7.

The stock rose as much as 3.67 per cent after forming a “gap up" chart pattern.

At about 1.40 pm, the stock was trading 2.45 per cent or Rs 12.55 higher at Rs 523.90.

The stock has cleared a resistance seen in the range of Rs 500-520, faced since the beginning of January 2015.

Price volume trend also hits a record high, suggesting price rise is supported by volume.

Thirty-three analysts out of 43 have either “strong buy" or “buy” recommendations on the stock as per StarMine.

Published on July 11, 2016
null
This article is closed for comments.
Please Email the Editor