public Sector's insurance company Life Insurance Corporation of India (LIC) sold more than 2.02 percent (more than 6.47 crore shares) of its stake in Tata Group's power company Tata Power. LIC has done this deal for Rs 2,888 crore. LIC shared this information on Tuesday. After this sale, LIC's stake in Tata Power has now reduced from 5.90 percent to 3.88 percent.
Sale took place at an average price of Rs 446.402
LIC said in the information given to the stock market that it has reduced its stake in Tata Power Company Limited (TPCL) from 18,87,06,367 shares to 12,39,91,097 shares. LIC has sold Tata Power shares in the open market between June 20, 2024 and November 11, 2024, at an average price of Rs 446.402 per share.
Terrible decline in stock market today
On Tuesday, while on one hand the shares of LIC closed in the green mark with a rise, on the other hand, the shares of Tata Power closed in the red mark with a big fall. Let us tell you that on the second day of the week a terrible decline was recorded in the Indian stock market. Today BSE Sensex closed at 78,675.18 points with a fall of 820.97 points and similarly NSE Nifty 50 also closed at 23,883.45 points with a big fall of 257.85 points.
LIC shares closed in the green
On Tuesday, LIC shares closed at Rs 921.45 with a gain of Rs 2.90 (0.32%). During trading today, shares of the government insurance company rose from an intraday low of Rs 918.55 to an intraday high of Rs 958.00. However, LIC shares are still well below their 52 week high. The 52 week high of LIC share is Rs 1221.50.
Big fall in Tata Power shares
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