LIC ups stake in Navin Fluorine International to 5.04% from 4.79%

Life Insurance Corporation of India (LIC) on Tuesday informed the exchanges that it has increased its stake in Navin Fluorine International to 5.04 per cent from 4.79 per cent.

“Holding in the company crossed 5% and the acquisition of shares was done on January 8, 2024, at an average cost of Rs 3,630.39,” LIC said.

Navin Fluorine, which is primarily engaged in producing refrigeration gases, inorganic fluorides, specialty organofluorines, and offers contract research and manufacturing services, has a market capitalisation of Rs 17,704.28 crore.

The shares of Navin Fluorine ended 3.1% lower on the BSE to close the day at Rs 3,500.20 a piece.

Yesterday, LIC announced that it had acquired a 10 per cent stake in a company promoted by the National Housing Bank. Details of the acquired company were not disclosed. Recently, it also increased its stake in Asian Paints to 5 per cent.