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Hot Pursuit
10-Jan-24
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LIC hikes stake in Navin Flourine International
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Life Insurance Corporation of India (LIC) informed that it increased its stake in Navin Fluorine International to 24,97,139 equity shares from 23,75,398 shares earlier, taking its shareholding to 5.037% of the paid up capital of the company.
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LIC bought 1,21,741 shares at an average cost of Rs 3630.39 via open market purchase on 8 January 2024. The life insurance major's holding in Navin Flourine International crossed 5% as on the same date.
Navin Fluorine International belongs to a reputed industrial house of Padmanabh Mafatlal Group in India. It has largest integrated fluorochemicals complex in India.The Company primarily focuses on fluorine chemistry - producing refrigeration gases, chemicals, inorganic bulk fluorides, specialty organofluorines and offers Contract Research and manufacturing services.
LIC has been providing life insurance in India for more than 65 years and is the largest life insurer in the country.
Shares of LIC rose 1.07% to Rs 841.75 while Navin Fluorine International declined 0.95% to Rs 3466.80 on the BSE.
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