LIC’s shareholding in HPCL crosses 5%

NEW DELHI: Life Insurance Corporation (LIC) on Tuesday said its shareholding in state-owned Hindustan Petroleum Corporation has crossed 5 per cent. The shares were bought in the ordinary course of transaction through open market purchases, LIC said in a regulatory filing to stock exchanges.

The holding in the company crossed 5 per cent on May 8, 2023. Its market capitalisation is Rs 36,194 crore. LIC’s holding in HPCL increased from 4.901 per cent to 5.013 per cent. It is an increase of 0.112 per cent on May 8, at an average cost of Rs 253.01, the insurance behemoth said.