Meanwhile, the BSE Sensex was up 32.04 points or 0.17% to 18,609.74.

The stock surged on high volumes. On BSE, 6.33 lakh shares were traded in the counter as against average daily volume of 64,272 shares in the past one quarter.

The stock hit a high of Rs 106.90 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 101.40 so far during the day. The stock had hit a 52-week low of Rs 68 on 2 January 2012.

The stock had outperformed the market over the past one month till 16 October 2012, surging 16.93% compared with the Sensex's 0.61% rise. The scrip had also outperformed the market in past one quarter, jumping 20.32% as against Sensex's 8.62% surge.

The small-cap company has equity capital of Rs 53.85 crore. Face value per share is Rs 10.

Shares of GIC Housing Finance have jumped 10.91% in two trading sessions from Rs 96.20 on 15 October 2012, after the company during trading hours on Tuesday, 16 October 2012, reported strong Q2 September 2012 earnings. The stock had surged 5.56% to settle at Rs 101.55 on Tuesday, 16 October 2012.

GIC Housing Finance's net profit jumped 148.9% to Rs 23.15 crore on 29.5% growth in total income to Rs 136.54 crore in Q2 September 2012 over Q2 September 2011.

GIC Housing Finance provides housing loans to both individuals and corporations. It has presence in 37 locations (32 business centers and 5 collection centers) across the country.