Sunday, June 16, 2024
HomeNewsLIC shareholding in Divis Lab breaches 5% mark

LIC shareholding in Divis Lab breaches 5% mark

[ad_1]

The Life Insurance Corporation of India (LIC) on 9 November said that its shareholding in Divis Laboratories has crossed 5 per cent as it has purchased additional shares for 35.82 crore.

The firm said that its shareholding in Divis Laboratories has increased from 4.992 per cent to 5.032 per cent as the number of shares held by it in the company rose from 1,32,54,663 to 1,33,60,663.

On 7 November, 2022, the holding in the company crossed the 5 per cent mark while the acquisition of shares was done at an average price of 3,379.01, LIC said in a regulatory filing.

ALSO READ: LIC increases stake by 2% in air conditioners giant Voltas

As a regulatory disclosure norm, listed companies are required to inform the stock exchanges upon change in shareholding to the tune of 5 per cent and above.

Divis Laboratories is engaged in manufacturing of Active Pharmaceutical Ingredients (APIs), intermediates and nutraceutical ingredients with predominance in exports.

Stock of LIC closed at 631.20 apiece on BSE, down by 0.33 per cent, while Divis Lab scrip ended 3.38 per cent lower at 3,298.15.

With PTI inputs.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.

More
Less

[ad_2]

Source link

RELATED ARTICLES

most popular

Recent Comments