LIC increases its shareholding in Hindustan Petroleum by over 5%

Life Insurance Corporation of India (LIC), on Tuesday, said its shareholding in Hindustan Petroleum Corporation (HPCL) has increased to 5.013% per cent from 4.901 per cent.

In the regulatory filing, the company said, “Corporation’s shareholding in ‘Hindustan Petroleum Corporation Ltd’ has increased from 6,95,16,128 to 7,11,13,128 equity shares increasing its shareholding from 4.901per cent to 5.013 per cent of the paid-up capital of the said company.”

The shares were acquired in the ordinary course of transaction through open market purchases, the company said in BSE filing.  

The holding in the company crossed 5 per cent on May 8, 2023.

Hindustan Petroleum Corporation Ltd (HPCL) is engaged in the business of refining of crude oil and marketing of petroleum products. Its market capitalisation is Rs 36,194 crore.

It is an increase of 0.112 per cent on May 8, at an average cost of Rs 253.01, the insurance behemoth said.

LIC's shares closed at Rs 557.35 apiece on BSE, down 0.93 per cent. HPCL's share was up 0.81 per cent at closed at Rs 255.55.

On 24 April, LIC said its holding in L&T Technology Services Ltd (LTTS), a subsidiary of L&T, crossed past 5 per cent. The shares were acquired in ordinary course of transaction through open market, LIC said in a regulatory filing.

The holding in company has crossed 5 per cent on April 21, 2023.

The acquisition of shares were done during the period from October 20, 2021 to April 21, 2023 at an average cost of Rs 4,140.67 per shares, it said.

LTTS is an engineering services provider, offers engineering, research and development and digitalisation solution to companies in the areas such as transportation, industrial products, telecom and medical devices.

(With inputs from agencies)