Published on 24/11/2022 12:51:50 PM | Source: Accord Fintech

Life Insurance Corporation gains on acquiring additional stake in Mahindra & Mahindra Financial Services

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Life Insurance Corporation of India is currently trading at Rs. 625.00, up by 3.95 points or 0.64% from its previous closing of Rs. 621.05 on the BSE.

The scrip opened at Rs. 622.30 and has touched a high and low of Rs. 631.10 and Rs. 622.30 respectively. So far 38098 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 920.00 on 17-May-2022 and a 52 week low of Rs. 588.00 on 21-Oct-2022.

Last one week high and low of the scrip stood at Rs. 647.00 and Rs. 620.10 respectively. The current market cap of the company is Rs. 395217.48 crore.

The promoters holding in the company stood at 96.50%, while Institutions and Non-Institutions held 1.09% and 2.42% respectively.

Life Insurance Corporation of India has purchased additional stake in Mahindra & Mahindra Financial Services. The company’s shareholding in Mahindra & Mahindra Financial Services has increased from 6,19,16,149 to 8,67,63,025 Equity Shares increasing its shareholding from 5.011% to 7.022% of the paid-up capital of the said company. There is an increase of more than 2% in holding during the period from April 06, 2021 to November 22, 2022.

Life Insurance Corporation of India, popularly known as LIC is Indian state-owned insurance group and Investment Company.