Supercharge Your Investments! LIC Amps Up Stake in Tech Mahindra to 8.88% - Unleashing Unprecedented Growth!
According to the information provided, the Life Insurance Corporation of India (LIC) has increased its equity shareholding in Tech Mahindra, an IT services provider, through open market transactions over a period of more than six months.
LIC's shareholding in Tech Mahindra has increased from 6.69 crore to 8.65 crore equity shares, resulting in a rise in its overall shareholding from 6.869 percent to 8.884 percent. This increase of 2.01 percent occurred between November 21, 2022, and June 6, 2023. The average buying price for these shares was Rs 1,050.77 per share.
As of March 2023, LIC held a 8.07 percent stake in Tech Mahindra, which amounted to 7.86 crore equity shares.
On the stock market, Tech Mahindra's share price closed at Rs 1,095.65 on the BSE, marking a 0.9 percent increase. However, in the current calendar year, the stock has experienced a decline of nearly 8 percent.