LIC Housing Finance is trading 5% higher at Rs 215, extending its Friday's 4% rally, on reports that LIC Housing Finance Asset Management Company, a unit of LIC Housing Finance, is planning to start a Rs 500-750 crore real estate fund, which will invest in rental yields and other real estate assets.
The company is tying up with different domestic institutional investors and financial institutions and is likely to launch it by June this year, newspaper reports suggest.
The stock of LIC Housing Finance opened at Rs 205 and hit a high of Rs 216 on the NSE. A combined 9.1 million shares have changed hands on the counter so far as against an average 6.14 million shares traded daily in the past two weeks.
