The Life Insurance Corporation of India is currently the largest domestic institutional investor in India. Investors as well as analysts closely track the company’s portfolio changes in order to get meaningful insights regarding their watchlist.
The insurance behemoth in a recent exchange filing said that it has increased its stake in two companies:
Tata Consumer Products
LIC’s shareholding in the Tata Group company has increased from 4,70,09,123 to 6,56,36,408 equity shares, or from 5.060 percent to 7.065 percent of the paid-up share capital of the company. This increase of 2.005 percent in holding happened during the period from May 02, 2022, to July 11, 2023, at an average cost of ₹ 770.69.
Tata Consumer Products has a presence in the food and beverages business in India and internationally. It is the second-largest tea company globally and has a significant market presence and leadership in many markets.
The company’s shares settled at ₹ 837.35 apiece on Friday and it has a market capitalization of ₹ 78,339 crores.
Deepak Nitrite
The insurance leviathan’s shareholding in the chemical company has increased from 68,58,414 to 96,69,799 equity shares, or from 5.028 percent to 7.089 percent of the paid-up share capital of the company. This increase of 2.00 percent in holding happened during the period from September 28, 2022, to July 11, 2023, at an average cost of ₹ 2152.73.
Deepak Nitrite manufactures basic intermediates, fine & speciality chemicals, performance products, and phenolics. Its manufacturing facilities are located in Gujarat, Maharashtra and Telangana.
The company’s shares closed at ₹ 1925.50 apiece on Friday and it has a market capitalization of ₹ 26,408 crores.
Written by Simran Bafna
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