LIC Housing Finance Ltd to split face value of stock from Rs 10 to Rs 2/-

LIC Housing Finance Ltd a listed housing finance company of the LIC of India in a communication to the Bombay Stock Exchange has announced that its Board of Directors has decided to split the face value of its shares from Rs 10 to Rs 2, to "boost the liquidity of its scrip". The company''s board of directors has also decided to conduct a postal ballot for obtaining shareholders'' approval for the stock split, the communication said. In the meanwhile the company's shares closed at Rs 1400.65 on the Bombay Stock Exchange today, up 1.74 per cent, over its previous close. The company posted a 36.76 percent increase in the quarterly net profit compared to last year. The company also reported a 31.78 per cent increase in total income during the July-September quarter to Rs 1,100.22 crore from Rs 834.89 crore in the year-ago period.