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Insurance
03-Oct-22
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LIC raise its stake in Dr Reddy Laboratories to 7.7 percent from 5.65 percent.
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Dr Reddy's Laboratories Ltd on Monday said, Life Insurance Corporation of India (LIC) has increased its stake to 7.7 percent in the pharmaceutical firm through purchase of 33.86 lakh shares from open market over a period of time.
Life Insurance Corporation of India (LIC) earlier held around 5.65 percent stake in the company, Dr Reddy's Laboratories (DRL) said in a regulatory filing.
Between June 15, 2022 and September 30, 2022 LIC purchased 33,86,486 shares of DRL, aggregating 2.034 percent stake from the open market, it added.
Subsequently, LIC's holding in the company stands at 7.7 percent, it added.
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