LIC pares 2.028% stake in Tata Chemicals

18 Oct 2022 , 09:22 AM

Life Insurance Corporation of India Limited informed that it has diluted its shareholding from 1,80,65,664 to 1,28,99,051 equity shares of Tata Chemicals Limited.

LIC has decreased its shareholding from 7.091% to 5.063% of the paid-up capital of the company, decreasing its stake by 2.028%. The decrease is between the period November 17, 2020, to October 14, 2022.

The company has diluted the said stake via Open Market Transactions at an average cost of Rs1,215.86 per share.

Tata Chemicals is engaged in the manufacturing of inorganic chemistry products including Soda Ash and vacuum-evaporated iodized salt. It has a strong market cap of about Rs29,473 crore.

Earlier, the company also diluted its stake in Empire Industries.

At around 9.32 AM, LIC was trading at Rs611.80, up by 0.50% against the previous close of Rs608.75 on NSE. On the other hand, Tata Chemicals was trading under pressure at Rs1,157 against the previous close of Rs1,162 on NSE.

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