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.
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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