Life Insurance Corp. of India sold a 2.09% stake in Hindustan Copper Ltd. for Rs 446.8 crore in an open market sale from September 2023 to August 2024.
The state-run life insurer reduced its stake in the copper producer by 2.09% to 6.09% at an average cost of Rs 221.64 apiece, according to an exchange filing. India's largest life insurer's stake in the company decreased from 7.90 crore shares to 5.88 crore shares, according to the filing.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
Shares of LIC rose as much as 1.67% during the day to Rs 1,075 apiece on the NSE. It was trading 1.11% higher at Rs 1,069 apiece, compared to a 0.16% advance in the benchmark Nifty 50 at 1:25 a.m.
Hindustan Copper's shares rose as much as 3.03% during the day to Rs 323.5 apiece, before paring gains to trade 1.8% higher at Rs 319.6 per share.
Hindustan Copper has risen 133% in the last 12 months and 17% on a year-to-date basis. The total traded volume so far in the day stood at 1.6 times its 30-day average. The relative strength index was at 53.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.