LIC pares 2% stake in NMDC for Rs 649 cr, brings down holding to 9.62% PSU Watch Archives
News Updates

LIC pares 2% stake in NMDC for Rs 649 cr, brings down holding to 9.62%

LIC has reduced its stake in iron ore producer NMDC to 9.62 percent by selling a little over two percent stake for about Rs 649 crore

PTI

New Delhi: Life Insurance Corporation (LIC) has reduced its stake in iron ore producer NMDC to 9.62 percent by selling a little over two percent stake for about Rs 649 crore. The state-owned insurer sold over 6.06 crore shares or 2.07 percent stake in NMDC between March 14 and June 20 at an average price of Rs 107.59 a share via open market sale.

Over 6.06 cr shares would be valued at around Rs 649 cr

At this price, over 6.06 crore shares would be valued at around Rs 649 crore. In a regulatory filing, LIC said its shareholding in NMDC has decreased from 11.69 percent to 9.62 percent.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

PSBs sanction loans worth Rs 10,907 crore under rooftop solar scheme

DRDO launches IRSA Standard 1.0 to boost interoperability in military communication

Niranjan Bhalerao takes charge as Director (Finance) at GRSE

Power Minister to participate in G20 Energy Transitions Ministerial Meeting in South Africa

Anil Kumar Chawla set to be next Director (Personnel) of ECIL