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LIC Dilutes Stake In Nagpur Power & Industries

Shares of LIC have been buying and selling at Rs 681.00 apiece on BSE, up 0.67 per cent from the earlier shut.

New Delhi:

LIC has diluted its stake in Nagpur Energy & Industries by over 2 per cent by means of open market gross sales, bringing down its stake to eight.33 per cent.

The federal government-owned life insurance coverage behemoth in a regulatory submitting on Thursday mentioned its shareholding in Nagpur Energy & Industries has diluted from 10.56 per cent (13,82,743 shares) to eight.33 per cent (10,90,747 shares) of the paid-up capital of the corporate.

There’s a lower of two per cent in holding in the course of the interval from September 30, 2021, to August 24, 2022, at a median price of Rs 58.94, LIC mentioned.

Listed corporations are required to reveal the shareholding the place there’s a change of two per cent or extra.

Calculated on the common worth of Rs 58.94 per share, the sale is valued at Rs 1.72 crore.

Nagpur Energy & Industries has a market capitalisation of Rs 87.74 crore.

The corporate was primarily within the steel restoration enterprise, producing low Ferro manganese. Nonetheless, it disposed of the restoration plant and entered {the electrical} sector a number of years in the past by means of its subsidiary.

Shares of LIC have been buying and selling at Rs 681.00 apiece on BSE, up 0.67 per cent from the earlier shut. 

(This story has not been edited by NDTV workers and is auto-generated from a syndicated feed.)

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