Life Insurance Corporation of India (LIC) disclosed that the insurance major has increased its stake in Indian Railway Catering and Tourism Corporation (IRCTC) to 9.298% from 7.278%.
The life insurer purchased 1,61,56,976 shares, or 2.020% equity, at an average cost of Rs 657.614 via open market purchase during the period from 16 December 2022 to 11 September 2024.IRCTC are an Indian public sector undertaking that provides ticketing, catering, and tourism services for the Indian Railways.
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 1.02% to currently trade at Rs 1,042 and IRCTC gained 1.27% to Rs 943.25 on the BSE.
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