Shares of LIC Housing rise as Nifty gains

Shares of LIC Housing rise as Nifty gains

LIC Housing Finance Limited (LIC HFL) is one of the largest Housing Finance Mortgage loan companies in India having its Registered and Corporate office in Mumbai. LIC HFL is a subsidiary company of LIC.

While the equity shares of LIC HFL are listed on the Bombay Stock Exchange and the National Stock Exchange of India. On 31st March 2016, 40.31% of the equity shares of the company were owned by LIC. The Foreign Institutional Investors (FII) held approx. 32% of the shares.

Shares of LIC Housing Finance Ltd. gained 2.49 percent to Rs. 412.3 in Wednesday’s trade. While it hit a high of Rs. 412.45 and low of Rs. 404.05 during the session.

Moreover, the stock quoted a 52-week high price of Rs. 487.5 and a low of Rs. 219.35. The return on equity for the stock stood at 13.15 percent. About 43,887 shares have changed hands on the counter so far. The stock’s beta value, which measures its volatility in relation to the broader market, stood at 1.33.

While the scrip has been an underperformer, up 49.11 percent in the past year in comparison with a 78.81 percent gain in Sensex.

Technicals;

On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs. 219.35 on April 28th. While the 50-DMA was at Rs.424.17. If a stock trades well above 50-DMA and 200-DMA. But it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend, and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding;

Promoters held a 40.31 percent stake in LIC Housing Finance Ltd. as of 31-Mar-2021. Mutual funds and foreign institutional investors held 9.27 percent and 28.2 percent stake.

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