LIC acquires 2% stake in BPCL
Life Insurance Corporation of India (LIC) bought 4,38,02,790 equity shares or 2.01% stake of Bharat Petroleum Corporation from 11 June 2018 to 28 December 2021.
Post transaction, Life Insurance Corporation of India (LIC) increased its shareholding to 15,25,08,269 equity shares or 7.03% stake from 10,87,05,479 equity shares or 5.011% stake held in Bharat Petroleum Corporation. The deal was executed as market purchase.As of 30 September 2021, Life Insurance Corporation (LIC) of India held 5.66% stake while the Government of India held 52.98% stake in the PSU OMC.
The PSU company's standalone net profit jumped 19.9% to Rs 2,694.10 crore on a 62.6% surge in net sales to Rs 81,536.67 crore in Q2 FY22 over Q2 FY21.
Shares of BPCL were trading 0.76% higher at Rs 384.35 on BSE.
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First Published: Dec 30 2021 | 9:22 AM IST