LIC Housing Fin shares rise to record high after block deal

Reuters | Updated on January 17, 2018

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

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