Life Insurance Corporation of India (LIC) cut its holding in NHPC to 3.19% in the March quarter from 3.48% in the preceding quarter. LIC stated in its official report that it sold shares worth ₹832.8 crore between October 18, 2022 and May 23, 2023.
According to the report, LIC sold 202.6 million shares of NHPC at an average price of ₹41.10 each during the period from October 18, 2022, to May 23, 2023.
LIC disclosed that its ownership in NHPC Ltd has decreased from 522.6 million to 319.9 million shares. This reduction means LIC’s ownership has gone down from 5.203% in October to 3.19% , as reported by LIC in a regulatory filing.
The shares were sold in the open market as part of regular transactions.
Back in October 2022, LIC had reduced its ownership in NHPC from 7.230% to 5.203% of the company’s total shares, selling shares worth ₹700.79 crore between March and October of that year.
According to regulations, publicly listed companies are required to disclose any changes in ownership exceeding 2%.
At the close of trading, LIC shares rose slightly to ₹593.90 each, while NHPC stock ended slightly lower at ₹43 per share on the NSE.
