Life Insurance Corporation on Tuesday said its shareholding in state-owned Hindustan Petroleum Corporation has crossed 5%.
The shares were acquired in the ordinary course of transaction through open market purchases, LIC said in a regulatory filing to stock exchanges. The holding in the company crossed 5% on May 8, 2023.
HPCL is engaged in the business of refining crude oil and marketing petroleum products. Its market capitalisation is Rs 36,194 crore.
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LIC's holding in HPCL increased from 4.901% to 5.013%.
It is an increase of 0.112% on May 8, at an average cost of Rs 253.01, the insurance behemoth said.
LIC's shares closed at Rs 557.35 apiece on BSE, down 0.93%. HPCL's share was up 0.81% at closed at Rs 255.55.
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