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Life Insurance Corporation of India has increased its stake in Hindustan Unilever Ltd, Hero MotoCorp and Capri Global Capital Ltd.
The addition in stakes are part of its investment function and was done in an ordinary course of transaction, LIC informed stock exchanges.
LIC’s stake in HUL increased from 4.995 per cent to 5.008 per cent. The acquisition through open market purchase was done on June 13 at an average cost of ₹2,206.93.
“ …Corporations’ shareholding in Hindustan Unilever Ltd has increased from 11,73,80,500 to 11,76,90,500 equity shares aggregating to 5.008 per cent of the paid-up capital of the said company,” LIC said.
LIC’s stake in Hero MotoCorp has increased from 9.163 per cent to 11.256 per cent.
With the open market purchses, the holding increased during April 1, 2021 to June 13, 2022 at an average cost of ₹3,050.14, the life insurer said.
It had also raised stake in Capri Global Capital from 5.043 per cent to 7.059 per centLIC’s holding increased from February 21 to June 10 this year at an average cost of ₹624.61.
LIC is the largest asset manager in the country and invests about 25 per cent of its assets under management in equities. The insurer realised gains of ₹42,000 crore from investments in equity markets in the last fiscal as against ₹36,000 crore in 2020-21.
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