LIC Aquires Additional 2% Stake In Tata Chemicals From 7.123% To 9.177%

Life Insurance Corporation of India (LIC) raised its stake in Tata Chemicals from 7.123% to 9.177%, the company announced on Friday through an exchange filing.

LIC acquired 1,81,45,978 shares, or 2.054% equity, of Tata Chemicals at an average price of Rs 999.35 through the open market between 27 June 2023 and 24 August 2023.

Tata Chemicals shares on Friday closed at Rs 1010.75 per share on Friday, down Rs 5.50 or 0.54% compared to previous close . It jumped 1.23% in 1 week and declined 8.07% in 1 year,

Tata Chemicals is Tata Group's chemicals sector company. Tata Chemicals offers world-class research and development centers in Pune and Bangalore. LIC has been providing life insurance in India for over 65 years and is the country's largest life insurer.

Recently, through Reliance Industries' demerger move, the LIC purchased 6.660% of Jio Financial Services on Monday. The transaction cost 4.68% of Reliance Industries Limited's pre-demerged value.