LIC lowers stake in 27 firms on Nifty, sells shares worth Rs 8,000-cr

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LIC lowers stake in 27 Nifty firms; sells equities
State-run insurance company, Life Insurance Corporation of India (LIC) has lowered its holdings almost 27 of the 50 firms that make up the benchmark index Nifty, while selling shares worth an estimated Rs 8,000 crore.

As per the data, the stepped-up share purchase by FIIs and an uptrend in the stock market, LIC has managed to book profits in many blue-chip stocks, for the three-month period ended December 31, 2012.

LIC holds shares worth about Rs 2.33 lakh crore in all the Nifty companies put together, but it lowered its holding in a total of 27 Nifty companies during the quarter.

As per the analysis of the changes in the shareholding patterns of these 27 companies, the cumulative value of LIC holding in them fell by little over Rs 8,000 crore during the quarter.

On the other hand, LIC further ramped up its stake in a total of 14 Nifty constituents with purchase of shares worth an estimated Rs 4,000 crore.

Read more about: lic, nifty, sensex
Story first published: Monday, February 4, 2013, 11:30 [IST]
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