In terms of market value, the share of LIC has come down to just 3.66 per cent, which is the lowest level till date.
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Life Insurance Corporation, the country’s largest insurance company, LIC is taking some major financial decisions before its IPO. According to the report published in Mint, LIC has sold its entire stake in 8 companies in the March quarter. LIC is the largest institutional investor in the country. Its share in the total market value of public traded companies has come down to just 3.66 per cent, which is the lowest level ever. This information has been provided by Prime Database. The Nifty rose by 5 per cent in the January-March quarter, due to which LIC has booked profit book on a large scale.
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