LIC did shopping for shares of 4 companies in two months

Since mid-March till the beginning of June, LIC has increased its investment in 4 big companies listed in the stock market. In which the country's largest government steel company SAIL ie Steel Authority of India is also included.

LIC shopping continues to increase continuously for more than two months. Since mid-March till the beginning of June, LIC has increased its investment in 4 big companies listed in the stock market. In which the country's largest government steel company SAIL ie Steel Authority of India is also included. Recently, the insurance company has also invested in the country's biggest tech company and has invested in Bata, a company that sells shoes and slippers. Even Tata Power was included in LIC's shopping list. Let us also tell you how much LIC has invested in five companies.

Increased investment in SAIL

Life Insurance Corporation of India (LIC) has increased its stake in Steel Authority of India (SAIL) by 175 basis points to 8.687 per cent in the current quarter, as against 6.93 per cent in the steelmaker at the end of the March quarter. In a filing to BSE, LIC said it has acquired 2 per cent stake in SAIL between October 14, 2021 and June 8, 2023 at an average price of Rs 66.18. Shares of SAIL closed at Rs 82.90 on BSE in Friday's session. At Friday's close, LIC's 8.687 per cent stake in SAIL was worth Rs 2,974.29 crore.

Tech Mahindra's stake increased

Earlier this week, LIC informed the stock exchanges that it has increased its stake in Tech Mahindra to 8.88 per cent. This is 81 basis points higher than the 8.07 per cent stake in the IT major as on March 31, according to quarterly shareholding data. LIC said its stake in Tech Mahindra will increase by 2.015 percentage points through open market purchases between November 11, 2022, and June 6, 2023. Tech Mahindra's stake has increased from 6.869 percent to 8.884 percent.

Shareholding in Tata Power as well

Earlier on May 25, LIC had said that the life insurance company has increased its stake in two stocks like Tata Power and Bata India. Giving information to the stock market, LIC said that in Tata Power, LIC raised 25,35,37,551 shares or 7.935 percent of the paid-up capital from 24,01,67,154 shares or 7.52 percent stake at the end of March quarter. In April 2019, LIC held 18,90,70,215 shares or 5.917 per cent stake in Tata Power. LIC said it raised 2.08 per cent in Tata Power Ltd between April 2019 and May 2023. The average cost of shares bought was Rs.234.02.

Heart came on Bata too

Besides this, LIC said its stake in Bata India increased to 83,95,740 shares or 6.532 per cent from 64,36,692 shares or 5.01 per cent as on March 31. As on March 15, 2023, LIC held 57,80,329 shares or 4.497 per cent stake in Bata India. For Bata India, the average cost of shares bought was Rs 1,433.54 between March 15 and May 24.