LIC raises holding in Tata Consumer Products, Deepak Nitrite

July 12, 2023 09:39 pm | Updated July 13, 2023 06:58 pm IST - HYDERABAD

Life Insurance Corporation of India, as an institutional investor, has increased its holding in Tata Consumer Products and Deepak Nitrite by about 2 percentage points each.

In Tata Consumer Products, its holding rose from 5.06% to 7.06% since May 2, 2022. Through the open market, LIC purchased more than 1.86 crore shares of the second-largest tea company globally at an average cost of ₹770.69 each.

LIC’s holding in specialty chemicals maker Deepak Nitrite increased from 5.02% to 7.08% in about nine and a half months from September 28. During this period, it purchased from the open market more than 28.11 lakh shares at an average price of ₹2,152.73 each.

On the BSE, Deepak Nitrite shares closed on Wednesday at ₹1,935.70 apiece, while Tata Consumer Products shares closed at ₹842.60 each.

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