LIC Increases Stake In Large Cap PSU Maharatna Company To 8.687%

Life Insurance Corporation of India (LIC) has informed BSE that it increased its stake in leading Maharatna PSU, Steel Authority of India (SAIL) from 6.686% to 8.687%. LIC stated that its holding increased from 6.686% to 8.687%, an increase of 2.001 % during the period from 14.10.2021 to 08.06.2023 at an average cost of INR 66.18. Last trading price of LIC share is Rs 601.75 per share with intraday decline of 0.32%. Check details below:

LIC Increases Stake In SAIL: According to the BSE filing of the company, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that Corporation's shareholding in "STEEL AUTHORITY OF INDIA LTD" has increased from 27,61,48,137 to 35,88,07,919 Equity Shares increasing its shareholding from 6.686% to 8.687% of the paid-up capital of the said Company.

LIC Raises Stake In Tech Mahindra: Earlier, Life Insurance Corporation of India (LIC) has raised its stake in leading IT Software company, Tech Mahindra to 8.88%, according to its BSE filing dated June 8, 2023. With the development, this is 81 basis points more than 8.07% stake it held in Tech Mahindra as on March 31.

LIC Increased Stake In Bata India & Tata Power: Earlier this year on May 25, LIC stated its shareholding in Bata India surged to 83,95,740 shares or 6.532% stake from 64,36,692 shares or 5.01% stake as on March 31. The life insurer held 57,80,329 shares or 4.497% stake in Bata India as on March 15, 2023.

Meanwhile, LIC said it increased its stake in Tata Power Ltd by 2.08 percentage points between April 2019 and May 2023.

LIC Stock Performance & Return: Last trading price of LIC is Rs 601.75 per share. Its 52-week high price is Rs 754.40 per share and 52-week low price is Rs 530.20 per share, respectively. It has a market capitalisation of Rs 3,80,606.74 crore. LIC share jumped 8% in last 1-month and declined 16% in last 1-year.

SAIL Stock Performance & Return: Last trading price of SAIL share on BSE is Rs 82.90 per share with intraday dip of 1.38%. SAIL's 52-week high price is Rs 93.90 per share and 52-week low price is Rs 63.60 per share. Its market capitalisation is Rs 34,238.46 crore.