Life Insurance Corporation of India (LIC) disclosed that it has decreased its stake in Hindustan Copper from 8.171% to 6.086%.
The life insurer sold 2,01,62,682 shares, or 2.085% equity, at an average cost of Rs 221.64 via open market sale during the period from 27 September 2023 to 16 August 2024.
Hindustan Copper (HCL) is a vertically integrated copper producing company. The principal activities of the company are exploration, exploitation, mining of copper and copper ore including beneficiation of minerals, smelting and refining.
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 gained 1.24% to Rs 1,070.95 while those of Hindustan Copper rallied 3.36% to Rs 324.50 on the BSE.
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