LIC offloads 2% in NHPC

Life Insurance Corporation of India (LIC) sold 204,413,392 equity shares or 2.035% stake of NHPC from 27 April 2016 to 17 March 2022.

Post transaction, Life Insurance Corporation of India (LIC) decreased its shareholding to 726,211,315 equity shares or 7.23% stake from 930,624,707 equity shares or 9.265% stake held earlier in NHPC. The deal was executed as market sale.

As of 31 December 2021, Life Insurance Corporation (LIC) of India held 7.43% stake in the company.

Shares of NHPC were trading 0.36% higher at Rs 28 on BSE in morning trade.

NHPC is the largest organization for hydropower development in India. It has also diversified in the field of solar & wind power. As of 31 December 2021, the Government of India held 70.95%.

 

The company reported 7.6% fall in consolidated net profit to Rs 888.76 crore in Q3 FY22 from Rs 961.64 crore recorded in Q3 FY21. Consolidated net sales of state-owned hydropower giant fell by 8.6% to Rs 2,156.7 crore in Q3 FY22 from Rs 2,359 recorded in Q3 FY21.

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