Life Insurance Corporation of India (LIC) purchased 3,99,28,880 equity shares, or 2.011% stake, of Ambuja Cements from 24 January 2020 to 5 October 2021.
Post transaction, LIC raised its stake in the cement company to 6.126% from 4.115% held earlier. The deal was executed as market sale and the announcement was made post trading hours yesterday, 6 October 2021.Shares of Ambuja Cement were trading 2.02% at Rs 403.30 on BSE. The scip hit a day's high of Rs 404.60 and a day's low of Rs 397.20 in trade today.
Ambuja Cements is one of the leading cement companies in India. It is part of the LafargeHolcim Group, the world leader in the building materials industry. The cement maker posted a 59.5% rise in standalone net profit to Rs 723 crore on a 55.8% increase in net sales to Rs 3,342 crore in Q2 2021 over Q2 2020.
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