LIC Housing Finance today zoomed over 11 per cent on the Bombay Stock Exchange (BSE), in hopes of smart third quarter earnings to be reported later in the day.
Shares of the non-banking financial company started the day on a robust note and witnessed a spurt of 11.12 per cent to touch an early high of Rs 172.80 on the BSE.
Similarly, the LIC Housing Finance scrip advanced by 11.37 per cent to trade at Rs 172.75 in the afternoon session.
Experts said the upsurge in the stock is triggered by fresh buying in hopes of handsome quarter results.
"The stock was beaten down quite a lot in the past sessions, which has given the investors an opportunity to make value buying at attractive levels.
Besides, the street is also expecting robust performance in the October-December quarter from the company," Religare Securities Executive Vice President Rajesh Jain said.
Meanwhile, the 30-share benchmark Sensex was trading at 19,020.80, down 71.25 points at 1422 hours.