LIC surges on hiking stake in Dr Reddy’s lab to 7.7%

Life Insurance Corporation of India is currently trading at Rs. 629.20, up by 8.45 points or 1.36% from its previous closing of Rs. 620.75 on the BSE.

Life Insurance Corporation of India
Life Insurance Corporation of India

The scrip opened at Rs. 623.00 and has touched a high and low of Rs. 631.60 and Rs. 623.00 respectively. So far 71728 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 920.00 on 17-May-2022 and a 52 week low of Rs. 617.00 on 29-Sep-2022.

Last one week high and low of the scrip stood at Rs. 631.60 and Rs. 617.00 respectively. The current market cap of the company is Rs. 398474.86 crore.

The promoters holding in the company stood at 96.50%, while Institutions and Non-Institutions held 1.18% and 2.32% respectively.

Life Insurance Corporation of India (LIC) has increased its stake to 7.7 per cent in Dr Reddy’s Laboratories (Dr. Reddy’s lab) through purchase of 33.86 lakh shares from open market over a period of time.

LIC earlier held around 5.65 per cent stake in the company. Between June 15, 2022 and September 30, 2022 LIC purchased 33.86 lakh shares of Dr. Reddy’s lab aggregating 2.034 per cent stake from the open market.

Life Insurance Corporation of India, popularly known as LIC is Indian state-owned insurance group and Investment Company.

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