LIC Increases Stake In Nestle To Over 5%
LIC purchased 1.49 lakh shares of Nestle, adding an additional 0.015% ownership to its stake in the company.
Life Insurance Corp. increased its stake in Nestle India Ltd. to 5.001% via a market purchase, according to an exchange filing from the fast-moving consumer goods company on Monday.
Having undertaken the transaction on Friday, LIC purchased 1.49 lakh shares of Nestle, adding an additional 0.015% ownership to its stake in the company.
Post the acquisition, LIC's number of Nestle India shares in possession went from 4.8 crore shares or 4.986% to 4.82 crore shares or 5.001%, the exchange filing said.
The company's standalone net profit fell 5% to Rs 885.4 crore in the fourth quarter of fiscal 2025, but still beat analysts' consensus estimates tracked by Bloomberg.
Shares of Nestle closed 1.52% higher at Rs 2,451 apiece on the NSE, compared to a 0.06% rise in the benchmark Nifty. The stock had risen 12.95% in the last 12 months and 0.68% on a year-to-date basis.
