LIC raises stake in JSW Steel

5 Sep 2022 , 09:58 AM

LIC bought 4,85,92,066 shares, or 2.010% equity, at an average cost of Rs 649.83 via open market purchase during the period from 3 August 2021 to 1 September 2022. JSW Steel, the flagship business of the diversified JSW Group, is Indias leading integrated steel company with capacity of 28 MTPA in India & USA (including capacities under joint control). The companys manufacturing unit in Viiayanagar, Karnataka is the largest single location steel-producing facility in India with a capacity of 12 MTPA. LIC has been providing life insurance in India for more than 65 years and is the largest life insurer in the country. Shares of LIC debuted on the bourses on 17 May 2022. The scrip was listed at Rs 867.20, representing an 8.62% discount to the issue price of Rs 949. LIC was up 0.53% at Rs 668.45 while JSW Steel gained 2.41% to Rs 677.30 on the BSE. Powered by Capital Market – Live News