Life Insurance Corporation of India invests in other companies and many investors like to keep a tab on the changes in the investments of the insurance behemoth. In accordance with SEBI’s regulations, all listed firms must disclose any change in shareholding of more than 2%.
Here are a few companies in which LIC has decreased its stake by more than 2%:
Mahindra & Mahindra Ltd
Mahindra & Mahindra is a diversified automobile company with a presence in 2-wheelers, 3-wheelers, PVs, CVs, tractors & earthmovers. LIC informed the bourses that it has diluted its holding in the company from 10,48,01,511 to 7,98,28,278 equity shares. As a result, its shareholding has decreased from 8.430% to 6.421 % of the paid-up capital of the said company.
Maruti Suzuki India Ltd
Maruti Suzuki India is an automobile company engaged in the manufacturing, purchase and sale of motor vehicles, components and spare parts. The LIC reduced its stake in it from 18,779,749 to 12,691,685 equity shares. As a result, its shareholding decreased from 6.217% to 4.201 % of the paid-up capital of the said company.
Bharat Dynamics Ltd
Bharat Dynamics is a government of India enterprise that is engaged in the manufacturing of guided missiles and allied defence equipment. LIC reduced its holding in the company from 11,785,417 to 8,116,175 equity shares. As a result, its shareholding has decreased from 6.430% to 4.428% of the paid-up capital of the said company.
Tata Chemicals Ltd
The Tata group company is engaged in the manufacture of inorganic chemistry products. It has plants spread across four continents: America, Europe, Africa and Asia. LIC reduced its holding in the company from 1,80,65,664 to 1,28,99,051 equity shares. As a result, its shareholding has decreased from m 7.091% to 5.063% of the paid-up capital of the company.
Power Grid Corporation of India Ltd
The company is a Maharatna CPSU and India’s largest power transmission company. LIC has diluted its holdings from 36,99,02,170 to 23,01,82,028 equity shares, decreasing its shareholding from 5.303% to 3.300% of the paid-up capital of the company.
NHPC Ltd
The company is a Mini Ratna Category I public sector utility and is the Government of India’s flagship hydroelectric generation company. LIC has diluted its holdings from 72,62,11,315 to 52,26,11,195 equity shares decreasing. Hence, its shareholding has reduced from 7.230% to 5.203% of the paid-up capital of the said Company.
Gujarat State Fertilizers & Chemicals Ltd
The Government of Gujarat promoted company is engaged in the manufacturing of various fertilizers and industrial products. LIC has decreased its holdings in the company from 2,41,42,861 to 1,58,10,752 equity shares. Therefore its shareholding has decreased from 6.059% to 3.968% of the paid-up capital of the company.
GlaxoSmithKline Pharmaceuticals Ltd
GlaxoSmithKline is a mid-cap pharmaceutical company engaged in the business of pharmaceutical research and the manufacture of medicines and vaccines. LIC informed the bourses that it has diluted its stake from 1,08,44,562 to 73,80,777 equity shares in the company. As a result, its shareholding has decreased from 6.402% to 4.357% of the paid-up share capital of the company.
Written by Simran Bafna
Disclaimer
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