Introduction:
Life Insurance Corporation of India (LIC) has increased its stake in a leading paint manufacturer, raising its shareholding from 5.001% to 7.010%. This move demonstrates LIC’s confidence in the company’s future growth and strengthens its influence.
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Share price movement of LIC:
On December 11, 2024, LIC opened at ₹948.20, slightly down from its previous close of ₹948.40. The stock reached a high of ₹952.00 and a low of ₹939.10. By 2:30 PM, it traded at ₹940.60, a 0.82% decrease, with a market capitalization of ₹5,94,929.28 crore.
LIC increases stake in Asian Paints:
Life Insurance Corporation of India (LIC) announced an increase in its shareholding in Asian Paints Ltd. from 4.79 crore shares to 6.72 crore shares. This raises its stake from 5.001% to 7.010% of the company’s paid-up capital.
The move reflects LIC’s growing confidence in Asian Paints and its long-term investment strategy. The increase in shareholding strengthens the Corporation’s position as a major stakeholder in the paint giant, enhancing its influence in the company’s future decisions.
LIC has ensured full compliance with the Listing Regulations, with all necessary details provided in the company’s official filing. The information is also available on LIC’s website, ensuring transparency and adherence to SEBI’s disclosure norms.
Recent news on LIC:
As of December 09, 2024, Prime Minister Narendra Modi launched LIC’s ‘Bima Sakhi Yojana’ in Panipat, Haryana, promoting women empowerment and financial inclusion. The initiative aligns with India’s focus on equality and holistic development.
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Stock performance of LIC for Period of 1 week, 6 months and 1 year:
Life Insurance Corporation of India (LIC) experienced a 2.38% decline in returns over the past week and an 11.1% dip over six months. However, its strong 19.8% growth over the past year highlights its long-term resilience and performance.
Shareholding pattern of LIC:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 96.50% | 96.50% | 96.50% |
| FII | 0.20% | 0.20% | 0.10% |
| DII | 1.20% | 0.90% | 0.90% |
| Public | 2.20% | 2.40% | 2.50% |
About LIC:
Life Insurance Corporation of India (NSE: LICI) is India’s largest insurance provider, holding a 66.2% market share in new business premiums. It offers diverse insurance products, including savings, term, health, annuity, and unit-linked plans.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
