LIC sells 2.1% stake in TIL

15 Mar 2023 , 09:34 AM

Life Insurance Corporation Limited has informed that the company has diluted its holding in TIL Limited from 10,22,985 to 8,10,038 equity shares, reducing its shareholding from 10.199% to 8.076% of the paid-up capital, a decrease of 2.123%

The company informed in an exchange filing, “There is a decrease of 2% in holding during the period from 31.12.2021 to 13.03.2023.”

The sale took place via open market transaction at an average price of Rs 157.48 per share.

TIL Limited is a manufacturer and marketer of a wide range of material handling, lifting, port, and road construction solutions.

Materials Handling Solutions is the company’s only division (MHS). The Materials Handling Solutions segment manufactures and markets a variety of material handling equipment, including mobile cranes, self-loading truck cranes, port equipment, road construction equipment, and other items. In West Bengal, the company has two manufacturing facilities: Kamarhatty and Kharagpur.

Following this development, LIC was trading 0.77% higher at Rs582.85, against the previous close of Rs578.50 on NSE. The counter opened at Rs581 and touched intraday high and low of Rs586.75 and Rs581 respectively.

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