LIC can buy stake in this company for Rs 4000 crore
LIC, the country’s largest life insurance company, is going to enter the health insurance sector soon. Insurance sector giant government company is going to buy a stake in a health insurance company. LIC chief executive Siddharth Mohanty said on Tuesday that the ongoing talks with the Health Insurance Company are in the final stages and it is expected that the deal will be finalized before 31 March. Siddharth Mohanty, however, did not name the Health Insurance Company, in which LIC is going to buy stake.
Natural option for LIC to come in health insurance business
Let us tell you that LIC, the country’s largest life insurance company, has been exploring the possibility of stepping into the health insurance sector for some time. LIC chief said in a conversation with the media, “To join the health insurance business is a natural option for LIC and the discussion is in the final stages.”
LIC can buy stake in this company for Rs 4000 crore
Siddharth Mohanty said that LIC will not buy a controller share of 51 percent or more in the Health Insurance Company. The exact amount of the stake to be purchased will depend on factors such as the decision and evaluation of the board of directors of LIC. According to some media reports, LIC is considering buying a stake in Manipal Signa Company in a deal of Rs 4000 crore.
Company shares closed with an edge on Tuesday
On Tuesday, LIC shares rose by Rs 12.65 (1.70%) on BSE at a price of Rs 757.65. However, the company’s shares are still trading below their 52 weeks below and close to 52 weeks. The 52 week of LIC shares is Rs 1221.50 and 52 week is Rs 715.35. According to BSE data, the company’s current market cap is Rs 4,79,213.45 crore.
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