LIC Housing Finance fell 4.71% to Rs 265, extending losses for the seventh consecutive session.
Shares of LIC Housing Finance lost 14.38% in seven trading days from its previous closing high of Rs 309.5 on 16 September 2020. The counter is down 45.52% from its 52-week high of Rs 486.40 hit on 21 January 2020. It has risen 42% from its 52-week low of Rs 186 hit on 25 March 2020.On the technical front, the stock's RSI (relative strength index) stood at 33.119. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock is trading above its 50 and 100 days simple moving average placed at 281.08 and 272.48 respectively. These levels will act as crucial support zones in near term.
The housing finance company posted a 35% jump in consolidated net profit to Rs 824.08 crore in Q1 June 2020 from Rs 609 crore in Q1 June 2019.
LIC Housing Finance is one of the largest housing finance companies in India. As of 30 June 2020, Life Insurance Corporation of India held 40.31% stake in the housing financer.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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