LIC Housing Finance is currently trading at Rs. 285.65, up by 0.45 points or 0.16% from its previous closing of Rs. 285.20 on the BSE.
The scrip opened at Rs. 288.90 and has touched a high and low of Rs. 288.95 and Rs. 284.60 respectively. So far 44702 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 300.00 on 02-Jan-2013 and a 52 week low of Rs. 228.30 on 23-May-2012.
Last one week high and low of the scrip stood at Rs. 290.15 and Rs. 272.05 respectively. The current market cap of the company is Rs. 14509.06 crore.
The promoters holding in the company stood at 40.31% while Institutions and Non-Institutions held 45.64% and 13.90% respectively.
Barely hours after RBI lowered short-term interest rate by 0.25 percent, LIC Housing Finance, hinted at the possibility of reducing lending rates on home loans. At present, LIC Housing Finance's interest rate on home loans stands at 10.25% per annum while its Prime Lending Rate (PLR) is 14.4%.
To support an economy set for its slowest growth in a decade, Reserve Bank of India (RBI), in 'Third Quarter Review of Monetary Policy 2012-13', went ahead and slashed repo rate by 25 basis points to 7.75 per cent against 8 per cent earlier. What came as a pleasant surprise to the street, was the reduction in cash reserve ratio (CRR) of scheduled banks by 25 basis points from 4.25 per cent to 4.0 per cent of their net demand and time liabilities (NDTL) effective the fortnight beginning February 9, 2013, a move that would release around Rs 18,000 crore of primary liquidity into the banking system.
LIC holds 40.31% stake in LIC Housing Finance while, institutional investors, both foreign and domestic together, are holding 41.47% shares, others hold 18.22% share.