Life Insurance Corporation of India (LIC) has increased its stake in Indian Railway Catering and Tourism Corporation (IRCTC) to about 9.3 percent. The insurance company said in a notice to the stock market that its stake in IRCTC has increased by 2.02 percent through transactions in the open market during December 16, 2022 to September 11, 2024. The country’s largest insurance company said – LIC has increased its stake in the equity shares of IRCTC from 5,82,22,948 shares i.e. 7.28 percent to 7,43,79,924 shares i.e. 9.29 percent. In this way, the company has purchased 1,61,56,976 shares.
Shareholding Pattern
Talking about the shareholding pattern of IRCTC, the promoters’ stake is 62.40 percent. Whereas, the public shareholding is 37.60 percent. Let us tell you that among the promoters of the company, the President of India has 62.40 percent stake or 49,91,72,170 shares.
Let us tell you that IRCTC is a Miniratna company. It has special rights given by the Central Government to manage online railway ticket booking, catering services and sale of packaged drinking water at railway stations and trains across the country. This increase in LIC’s stake is part of its regular investment activities.
share status
LIC’s share on BSE closed at Rs 1031.45, up 1.81 percent from its previous closing price. Talking about IRCTC, its share price is at Rs 931.40. The share closed 0.93% higher than the previous day.
Stake has been sold in this company
Recently, LIC has sold 2.09 percent stake in Hindustan Copper for Rs 447 crore. The company sold a total of 2,01,62,682 shares of Hindustan Copper i.e. 2.085 percent stake through open market transaction. Hindustan Copper shares were sold at an average price of Rs 221.64 per share. After the stake sale, LIC’s stake in Hindustan Copper has come down from 8.17 percent to 6.09 percent.
