LIC raises stake in SAIL to 8.687% via open market purchase; should you buy this steel stock too?2 min read 09 Jun 2023, 09:04 PM IST
LIC has increased its stake in government-owned steel producer SAIL by 2.001% to 8.687% in an open-market purchase. The insurer bought over 8.26 crore equity shares in SAIL between October 14, 2021, and June 8, 2023, at an average cost of ₹66.18 apiece.
India's largest life insurer, LIC has hiked its shareholding in government-owned leading steel producer, SAIL. The insurer's stake has been raised by 2.001% to 8.687% in SAIL. The transaction was carried out in an ordinary course in the open market and in tranches. Notably, brokerage ICICI Securities on Friday recommended an ‘Add’ on SAIL stock.
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