Latest News | Life Insurance Corp Pares 2 Pc Stake in NMDC

New Delhi, Dec 13 (PTI) State-owned insurer Life Insurance Corp of India (LIC) has pared its stake in iron-ore producer NMDC Ltd by 2 per cent, according to an exchange filing.

After the stake sale, LIC's holding in the state-run iron ore mining company NMDC has dropped to 5.6 per cent from 7.6 per cent earlier.

Also Read | Kolkata Fatafat Result Today: Kolkata FF Result for December 13, 2024 Declared, Check Winning Numbers and Result Chart of Satta Matka-Type Lottery Game.

The insurer sold more than 5.91 crore shares or 2 per cent stake in NMDC through a series of market sales over a period spanning from September 2023 to December 2024, LIC said in a regulatory filing on Friday.

LIC's holding in NMDC's equity shares carrying voting rights decreased from 22,31,79,025 shares, representing 7.6 per cent of the total voting capital, to 16,40,59,791 shares, accounting for 5.6 per cent, it added.

Also Read | RRB JE Exam 2024 Admit Card Out at rrbapply.gov.in: Hall Ticket for 7,951 Junior Engineer Posts CBT 1 Examination Released, Know Steps To Download.

Last month, LIC said it has sold more than 2.02 per cent stake in Tata Power for about Rs 2,888 crore and reduced its holding in the company to 3.88 per cent.

Shares of NMDC on Friday fell 2.91 per cent to close at Rs 233.70 apiece on the BSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)