LIC Increases Stake In This Midcap Logistics Company

Life Insurance Corporation of India (LIC) has announced that it has increased its shareholding in "Container Corporation of India Ltd." from 3,04,31,759 to 3,06,09,408 Equity Shares. LIC increased its stake from 4.994% to 5.023% of the paid-up capital, the company said.

Container Corporation of India is a leading Logistics Solution Provider in India. It is a midcap company having a market cap of Rs 44,548.56 Crore.

According to the regulatory filing by the Board of Directors of LIC, "Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that Corporation's shareholding in "CONTAINER CORPORATION OF INDIA LTD." has increased from 3,04,31,759 to 3,06,09,408 Equity Shares, increasing its shareholding from 4.994% to 5.023% of the paid-up capital of the said Company."

The Life Insurance Corporation (LIC) is India's largest insurance provider. It enjoys a market share of more than 66% in new business premiums. The company provides both participating and non-participating insurance products such as unit-linked insurance products, saving insurance products, term insurance products, health insurance, and annuity & pension products.

On Tuesday, LIC's share closed 0.29% higher at Rs 645 apiece on the BSE. The stock has given 2.25% positive return in 1 year, however, it declined 2.78% in 1 month. Its 52-week high is Rs 754.40 apiece and 52-week low is Rs 530.20 apiece.

Meanwhile, the Container Corporation of India shares closed 0.50% higher at Rs 731.15 apiece on the BSE. The stock gained 25.27% in 6 months. It gained 4.73% in 1 year. It gave 94.66% in 3 years, and 46.15% in 5 years, respectively.