The life insurer sold 7,25,78,589 equity shares, or 2.084% equity, at an average cost of Rs 79.58 via open market sale during the period from 20 June 2019 to 28 December 2023.

Bharat Heavy Electricals is engaged in design, engineering, manufacture, construction, testing, commissioning and servicing of a wide range of products and services for the core sectors of the economy, viz, Power, Transmission, Industry and Transportation.

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 0.37% to Rs 829.90 while those of Bharat Heavy Electricals rose 0.73% to Rs 194 on the BSE.