LIC Increases Equity Stake in Hindustan Unilever by Over 5%
In a recent move, Life Insurance Corporation of India (LIC) announced that its stake in FMCG major Hindustan Unilever Limited (HUL) has surpassed 5%. The Corporation augmented its shareholding in HUL from 4.99% to 5.01% of the company’s paid-up capital by acquiring additional shares from the open market. This increase amounted to a purchase of 3,05,000 equity shares, bringing LIC’s total shares in HUL to 11,77,18,555.
LIC procured the additional shares on April 12th, with an average cost of Rs 2,248.59 per unit. This transaction marks a significant move by LIC to strengthen its position in one of India’s leading FMCG companies.
Following this announcement, shares of HUL experienced a decline of 1.72%, closing at Rs 2,194.60 on the BSE. Similarly, LIC’s shares closed at Rs 961.15 apiece, down by 1.03%.
This strategic investment by LIC underscores its confidence in the long-term growth prospects of Hindustan Unilever Limited.
Did you know that many rivers around the world are compared with one another because…
Did you know that every year the world waits eagerly for one of the biggest…
The major Egypt archaeological discovery has solved a mystery. This mystery that remained unanswered for…
The medieval Gajapathi inscription has been discovered at the Lakshmi Narasimha Swamy Temple in Ramachandrapura…
The process to the appointing State Director General of Police (DGP) has been changed after…
Surya Midha has created headline after matching the youngest billionaire milestone. Earlier this milestone was…