The Life Insurance Corporation of India (LIC) has a stake in various companies. Many investors keep a track of the changes that the insurance behemoth does to its portfolio.
LIC is the largest Life Insurer in India and has been providing life insurance for more than 65 years. Its shares debuted on the exchanges on May 17, 2022, at ₹ 867.20, representing an 8.62% discount to the issue price of ₹ 949. They were trading at ₹ 636.10 apiece on Tuesday’s afternoon deals.
All listed firms must disclose any change in shareholding of more than 2%, according to the Securities and Exchange Board of India’s (SEBI) regulations.
The LIC recently said that it has decreased its stake in three companies as an investment function, in the ordinary course of the transaction. The sale happened through open market transactions and did not require regulatory approvals.
Siemens Ltd.
The insurer pared its stake in Siemens Ltd from 1,84,12,652 to 1,11,45,887 equity shares. This represents a decrease from 5.170% to 3.130% of the paid-up share capital of the company. The decrease of 2.040% in stake happened from July 18, 2022 to November 24, 2022 at an average price of ₹ 2819.26 per share.
Siemens is a technology company focused on industry, infrastructure, transport as well as transmission and generation of electrical power. It offers integrated solutions for industrial applications for a spectrum of industries. It has a market capitalization of ₹ 98,457 crores and its shares were trading at ₹ 2777.45 apiece at 03:14 PM on Tuesday.
DCM Ltd.
LIC diluted its shareholding in DCM Ltd from 11,75,843 to 7,86,394 equity shares. This means that its stake has reduced from 6.295% to 4.210% of the paid-up share capital of the company. The decrease of 2.085% in stake happened from January 24, 2018, to November 24, 2022, at an average price of ₹ 78.05.
DCM is primarily engaged in the manufacturing of textiles, grey iron casting, IT infrastructure services and real estate activities.It has a market capitalization of ₹ 145 crores and its shares were trading at ₹ 84.40 apiece at 03:15 PM on Tuesday.
Bharat Bijlee Ltd.
The insurer reduced its shareholding in Bharat Bijlee Ltd. from 3,78,352 to 2,56,553 equity shares. With this, its shareholding in the company has decreased from 6.695% to 4.540% of the paid-up share capital of the company. The decrease of 2.155% in stake happened from November 19, 2019, to November 25, 2022, at an average price of ₹ 1693.96.
Bharat Bijlee is an electrical engineering company in India. It manufactures transformers, electric motors, elevator systems and drives. It has a market capitalization of ₹ 1,367 crores and its shares were trading at ₹ 2392.40 apiece at 03:16 PM on Tuesday.
Written by Simran Bafna
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