LIC Housing Finance slips nearly 8% post block deal

According to reports, Fidelity Management has likely sold stake in the company.

Shares of LIC Housing Finance tumbled as much as 7.56 per cent to Rs 428.35 apiece on the NSE in the opening deals on Thursday after reports suggested 3.9 crore shares, representing 7.7 per cent of equity, were traded in a block deal at Rs 431 per share. 

At 09:32 am, the stock was trading around 7 per cent lower at Rs 431.35 apiece on the NSE. In comparison, the benchmark Nifty50 index was trading at 10,872 levels, down 47 points or 0.43 per cent. 

According to a report by CNBC-TV18, Fidelity Management has likely sold stake in the company.