/ GIC Housing Finance Sheds Gains Of Wednesday ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Thursday, 19 January 2017



GIC Housing Finance is trading weak in today’s market after the stock rallied in Wednesday’s trade, gaining by more than 5% in the second half of the day, after reports emerged on PSU divestments of General Insurance Companies, wherein government holds 100% equity stakes as of now.

The government's stake in the PSU divestments in general insurance companies will come down to 75% from 100%. GIC Housing Finance is promoted by the five PSU insurance companies viz., General Insurance Corporation of India, National Insurance Company Ltd., Oriental Insurance Company Ltd., United Insurance Company Ltd., and The New India Assurance Company Ltd.

Experts believe that the move by the government is in the right direction, however, with divestment there is a possibility of liquidity being sucked out from the markets.
GIC Housing Finance Ltd is currently trading at Rs 293.05, down by Rs 3.8 or 1.28% from its previous closing of Rs 296.85 on the BSE. The scrip opened at Rs 297.7 and has touched a high and low of Rs 297.75 and Rs 290.1 respectively. So far 98181(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1598.54 crore.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 354 on 19-Oct-2016 and a 52 week low of Rs 181.35 on 24-Feb-2016. Last one week high and low of the scrip stood at Rs 315 and Rs 268 respectively. The promoters holding in the company stood at 42.16 % while Institutions and Non-Institutions held 16.93 % and 40.92 % respectively. The stock is currently trading above its 200 DMA.

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