Life Insurance Corporation of India on Friday diluted its share from 8,10,038 to 5,96,195 shares moving from 8.076 per cent to 5.944 per cent through open market sale, the company announced through an exchange filing. The holding decreased at an average price of ₹154.69 each.
TIL Limited is engaged in the manufacturing and marketing of a comprehensive range of material handling, lifting, port and road construction solutions. The company has a market capital of ₹269.76 and is part of the construction vehicles industries.
The company now holds 5.944 per cent stake in TIL.
The shares of LIC on Friday afternoon at 2:50 pm IST were trading at ₹652.35, down by 1.11 per cent.
LIC reported a multifold jump in its April-June quarter net profit to Rs 9,544 crore against ₹683 crore the company made in the year-ago period. The total income increased to Rs 1,88,749 crore for the June quarter as against Rs 1,68,881 crore in the year-ago period. The insurer earned Rs 53,638 crore as against Rs 50,258 crore in the same period a year ago.