Insurance 10-Oct-22
Life Insurance Corporation reduces stake in United Nilgiri Tea
Life Insurance Corporation of India (LIC) reduced stake in United Nilgiri Tea Estates Company Limited to 3.80 lakh shares from 4.81 lakh shares. Effectively, LIC's stake has come down from 9.632 per cent of the company's paid-up capital to 7.613 per cent.
LIC sold these shares at an average price of ₹310.72 between August 12 and October 7, the insurance major told exchanges. Shares of United Nilgiris ended down 1.85 per cent at ₹299.90 on the NSE, while shares of LIC fell 0.44 per cent to ₹621.75.
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