Life Insurance Corporation of India (LIC) disclosed that it increased its stake in Deepak Nitrite to 5.028% from 4.977% earlier.
LIC bought 70,087 shares, or 0.051% equity, at an average cost of Rs 2,074.49 via open market purchase. The holding of LIC in Deepak Nitrite crossed 5% on 28 September 2022.Deepak Nitrite is one of the leading suppliers of chemical intermediates. It has a diversified portfolio of intermediates that cater to the dyes and pigments, agrochemical, pharmaceutical, plastics, textiles, paper and home and personal care segments in India and overseas.
LIC has been providing life insurance in India for more than 65 years and is the largest life insurer in the country. Shares of LIC debuted on the bourses on 17 May 2022. The scrip was listed at Rs 867.20, representing an 8.62% discount to the issue price of Rs 949.
LIC was up 0.16% at Rs 620.30 while Deepak Nitrite rose 0.41% to Rs 2,016.20 on the BSE.
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