LIC increases stake in this Nifty bluechip stock through open market

LIC increases stake in this Nifty bluechip stock through open market

Life Insurance Corp (LIC), one of the biggest domestic institutional investors in India, has increased stake in IT services company Tech Mahindra. The state-owned insurer has freshly added 1.96 crore shares in Tech Mahindra, increasing its shareholding to 8.8% from 6.8% earlier. “The corporation’s shareholding in Tech Mahindra has increased from 6,69,25,392 to 8,65,58,538 equity … Read more

LIC ignores bear howls to strengthen hold on Dalal Street’s most hated corner

LIC ignores bear howls to strengthen hold on Dalal Street’s most hated corner

NEW DELHI: Snubbing bearish views of most foreign institutional investors (FIIs) on IT stocks amid recession-related worries in western economies, India’s largest domestic investor LIC is making a contra bet. The March quarter shareholding pattern shows that the state-owned insurer hiked stakes in seven of the biggest Indian tech majors – TCS, Infosys, Tech Mahindra, … Read more