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Hot Pursuit
19-Dec-23
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LIC reduces stake in Tata Motors
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Life Insurance Corporation of India (LIC) said that it has decreased its stake in Tata Motors to 3.092% from 5.110%.
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LIC sold 6,70,50,766 equity shares, or 2% equity, at an average cost of Rs 711.65 via open market sale during the period from 28 August 2015 to 18 December 2023.
Tata Motors Group is a leading global automobile manufacturer. Part of the illustrious multi-national conglomerate, the Tata group, it offers a wide and diverse portfolio of cars, sports utility vehicles, trucks, buses and defence vehicles to the world.
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 fell 0.64% to Rs 796.25 while shares of Tata Motors shed 0.16% to Rs 729.45 on the BSE.
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