LIC sold Rs 832.8 crore worth of shares of NHPC between October and May

25 May 2023 , 10:09 AM

Life Insurance Corporation of India (LIC) has reduced its stake in NHPC to 3.19% in the March quarter, down by 0.29% against a 3.48% stake in the previous quarter. In its official report, LIC stated that it sold shares worth Rs 832.8 crore between October 18, 2022, and May 23, 2023.

According to the BSE shareholding pattern, LIC’s holding in NHPC stood at 34,91,42,900 shares at the end of the March 2023 quarter.

According to the report, from October 18, 2022, to May 23, 2023, LIC sold 202.6 million shares of NHPC at an average price of 41.10 each.

LIC reduced its stake in NHPC from 7.230% to 5.203% of total shares in October 2022, selling shares worth Rs 700.79 crore between March and October of that year. Regulations require publicly traded companies to disclose any changes in ownership that exceed 2%.

In a series of tranches, the insurer reduced its stake in NHPC by 2.017%.

At around 10.06 AM, NHPC was trading at Rs 43.05, up by 0.12% against the previous close of Rs 43 on NSE.

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