LIC Housing Finance sheds 8% on report of Fidelity selling stake in co.

Economic Times earlier reported that some marquee investors were likely to sell ~6.7% shares of the company..

Aug 22, 2019 04:08 IST India Infoline News Service

LIC Housing Finance

Shares of LIC Housing Finance cracked ~8% in early trade after media reports suggested that 3.9cr shares representing 7.7% of the co.'s equity were traded in a block deal at Rs431/share.

According to a report by CNBC-TV18, Fidelity Management has likely sold stake, amounting to Rs1,261cr, in the co.

Economic Times earlier reported that some marquee investors were likely to sell ~6.7% shares of the co. According to the report, Fidelity Investment Trust held 3.41% in the company as on June 30, 2019, while Bank of Muscat India Fund and Government Pension Fund Global held 2.28% and 1.83%, respectively.

LIC Housing Finance Ltd is currently trading at Rs423.20 down by Rs40.5 or 8.73% from its previous closing of Rs463.70 on the BSE.

The scrip opened at Rs437.15 and has touched a high and low of Rs437.15 and Rs420.30 respectively. So far 6,57,13,261 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs23,400.62cr.


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