LIC cuts its holding in NHPC to 3.19%

LIC cuts its holding in NHPC to 3.19%

New Delhi: Life Insurance Corporation of India (LIC) has reduced its stakes from India's hydropower board, NHPC. The state-owned insurance group and investment company cut its holding to 3.19% in the March quarter from 3.48% in the preceding quarter. LIC stated in its official report that it sold shares worth Rs 832.8 crore between October 18, 2022, and May 23, 2023.

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According to the report, LIC sold 202.6 million shares of NHPC at an average price of Rs 41.10 each during the period from October 18, 2022, to May 23, 2023.

According to LIC, its ownership in NHPC has decreased from 522.6 million to 319.9 million shares.

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