LIC News
Life Insurance Corporation of India (LIC) on Thursday said that it has increased its stake in railway undertaking IRCTC to about 9.3 percent. The public sector insurance company said in a notice to the stock exchange that its stake in Indian Railway Catering and Tourism Corporation (IRCTC) has increased by 2.02 percent through open market transactions 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.”
Company making good profits
IRCTC is consistently earning good profits. IRCTC’s return on equity is 40.4%, while return on employed capital remains at 53.8%. Talking about the shareholding pattern of the company, the promoters hold 62.40% stake in it. Public shareholding is 37.60%. Among the promoters of the company, the President of India holds 62.40% stake or 49,91,72,170 shares.
share status
On Friday, the last trading day of the week on the Bombay Stock Exchange, IRCTC’s share closed at Rs 931.40 with a gain of 0.93 percent or Rs 8.55. The company’s market cap is Rs 74,512 crore. Life Insurance Corporation i.e. LIC’s share closed at Rs 1031.45 on Thursday, up 1.81 percent. The company’s market cap is Rs 6,52,391.89 crore.
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