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LIC Housing shares rebound after tumble

Shares in LIC Housing Finance erased early losses of 11.5% and climbed 3.5% on Thursday morning.

business Updated: Nov 25, 2010 11:15 IST
Reuters

Shares in LIC Housing Finance erased early losses of 11.5% and climbed 3.5% on Thursday morning.

On Wednesday, eight top officials from banks and financial firms were arrested on charges of taking bribes to grant corporate loans, the federal police said.

After the market closed on Wednesday, the investigation agency said those arrested included the chief executive of LIC Housing Finance

At 10:15 am (0445 GMT), shares in LIC Housing were up 3.5%, while the main stock index gained 0.8%.

First Published: Nov 25, 2010 10:39 IST