Life Insurance Corporation of India Share Price – NSE /  BSE

Insurance, Large Cap

Life Insurance Corporation of India has increased its shareholding in equity shares of Asian Paints from 4,79,66,302 to 6,72,40,527 i.e., 5.001% to 7.010% of the paid-up capital of the said Company

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Shares of Life Insurance Corporation of India have risen 12% in six session from its close of Rs 882.25 on 21 November 2024. The stock is up 47% in one year.

Meanwhile the insurer clarified on the media reports suggesting that it is in talks with ManipalCigna Health Insurance for a potential 50% stake acquisition. In a regulatory filing, LIC clarified that while it continuously evaluates and explores strategic opportunities across various sectors, including health insurance, there is no material information to disclose at this time.

In a separate development, LIC has challenged a GST demand of Rs 66.69 lakh for FY 2019-20, along with interest and a penalty of Rs 6.67 lakh, imposed by the tax authorities in Jammu and Kashmir. The company has assured that the financial impact of this demand is limited and will not significantly affect its overall operations.

LIC is the largest life insurer in the country. On a consolidated basis, its net profit declined 3.8% to Rs 7728.68 crore while total income rose 14.1% to Rs 231926.41 crore in Q2 September 2024 over Q2 September 2023.

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The move involved the acquisition of 1,25,000 equity shares through an open market purchase at an average price of Rs 1,764.96 per share via open market purchase. LIC’s holding in the Patanjali Foods touched 5% on 26 November 2024.

Patanjali Foods (formerly known as Ruchi Soya Industries) is one of India's top FMCG player in India. The company is present in Edible Oils, Food & FMCG and Wind Power Generation segments via a bouquet of brands like Patanjali, Ruchi Gold, Nutrela, etc.

LIC has been providing life insurance in India for more than 65 years and is the largest life insurer in the country.

Shares of LIC rose 0.57% to Rs 912.55 while Patanjali Foods shed 0.11% to Rs 1,752.95 on the BSE.

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LIC acquired the stake at an average price of Rs 4,950.807 per share from 20 March 2024 to 19 November 2024.

The deal was in the ordinary course of action, said LIC in the exchange filing. The release came post market close on Thursday 21 November 2024.

LTI Mindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. LTI Mindtree a Larsen & Toubro Group company combines the industry-acclaimed strengths of erstwhile Larsen and Toubro Infotech and Mindtree in solving the most complex business challenges and delivering transformation at scale.

LIC has been providing life insurance in India for more than 65 years and is the largest life insurer in the country.

Shares of LIC rose 0.48% to Rs 886.50 while LTI Mindtree added 1.06% to Rs 5,992 on the BSE.

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