LIC holding increases over 5% in this Tata stock: Check here
1 min read . Updated: 01 Nov 2022, 04:51 PM IST
Premium- The insurer's shareholding in Tata Motors has increased from 4.997 per cent to 5.004 per cent of the paid-up capital of the company
The shareholdings of Life Insurance Corporation (LIC) in Tata Motors Ltd has crossed 5 per cent as the insurer has invested ₹11.9 crore in the company, thus increasing its shareholdings.
The insurer's shareholding in Tata Motors has increased from 16,59,48,741 to 16,61,98,741 equity shares thus increasing its shareholding from 4.997 per cent to 5.004 per cent of the paid-up capital of the company, said LIC in its regulatory filing.
"Holding in the company has crossed 5 per cent on October 31, 2022," LIC said. The shares were acquired during the period from December 3, 2021 to October 31, 2022 at an average cost of ₹455.69," said LIC.
As per regulatory norms, listed companies are required to inform stock exchanges when their shareholding in a company crosses 5 per cent.
Tata Motors has a market capitalisation of ₹1.38 lakh crore. The company reported that its total domestic sales increased by 44 per cent to 80,633 units in September. The Mumbai-based automaker had dispatched 55,988 units to its dealers in September 2021. Tata Motors Passenger Vehicles Managing Director Shailesh Chandra said that the company attained its highest ever monthly sales of 47,654 units last month led by record sales of Nexon and Punch.
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Stock of LIC closed at ₹605.30 apiece on BSE, up by 0.22 per cent from previous close. Tata Motors scrip ended at ₹421.50, up by 2.16 per cent.
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