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Insurance

Information about LIC increases its stake in HPCL by over 5% available for investment. Back
LIC increases its stake in HPCL by over 5%
10-May-23   10:02 Hrs IST


Life Insurance Corporation of India (LIC), on Tuesday, said its shareholding in Hindustan Petroleum Corporation (HPCL) has increased to 5.013% per cent from 4.901 per cent.

In a regulatory filing to stock exchanges, the company said, "Corporation's shareholding in 'Hindustan Petroleum Corporation Ltd' has increased from 6,95,16,128 to 7,11,13,128 equity shares increasing its shareholding from 4.901per cent to 5.013 per cent of the paid-up capital of the said company."

The shares were acquired in the ordinary course of transaction through open market purchases, LIC said in a regulatory filing. The holding in the company crossed 5 per cent on May 8, 2023.

HPCL is engaged in the business of refining crude oil and marketing petroleum products. Its market capitalisation is Rs 36,194 crore.

LIC's holding in HPCL increased from 4.901 per cent to 5.013 per cent.

It is an increase of 0.112 per cent on May 8, at an average cost of Rs 253.01, the insurance behemoth said.

LIC's shares closed at Rs 557.35 apiece on BSE, down 0.93 per cent. HPCL's share was up 0.81 per cent at closed at Rs 255.55.

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