Life Insurance Corporation of India (LIC) has gradually reduced its stake in the India Cements Ltd. from 5.87% to 3.83%.
In a regulatory filing, LIC said that the decrease of 2.042% in holding happened between November 21, 2007 and July 4, 2023 at an average price of ₹191.59 apiece. It was through open market sale.
Post the sale of 63.28 lakh share, LIC currently holds 1.19 crore shares of India Cements.
Shares of India Cements lost 40 paise, or 0.19%, to close at ₹211.45 on the BSE on Wednesday, while LIC’s shares gained ₹1.15, or 0.18%, to close at ₹626.95.