Life Insurance Corporation of India on Thursday sold 2.038 per cent stake in Oil India, the company announced through an exchange filing. The shares were sold on the open market for the investment function.
Post the sale of shares the company's stake in Oil India reduced from 11.727 per cent to 9.689 per cent between the period of March 27, 2018 to September 20, 2023 at an average cost of Rs 259.37.
Oil India Ltd is engaged in exploration, development and production of crude oil and natural gas, transportation of crude oil and production of LPG. It also provides various E&P related services for oil blocks.
LIC of India earlier this month announced that the Corporation’s shareholding in Sun Pharmaceuticals Industries Limited has diluted from 12,05,24,944 to 7,22,68,890 Equity Shares, decreasing its shareholding from 5.023 percent to 3.012 percent of the paid-up capital of the said Company.
The shares of LIC of India on Thursday closed at Rs 654.45, down by 0.18 per cent.