Life Insurance Corporation Of India — Important, 16-12-2024: General Updates

Life Insurance Corporation of India has increased its stake in SRF Ltd. from 1,47,36,943 shares to 1,48,30,443 shares, boosting its ownership from 4.97% to 5.00% of the company's paid-up capital. This acquisition was made through an open market purchase at an average cost of ₹2272.96 per share. SRF Ltd., established in 1970, operates in the specialty chemicals sector, producing a variety of products including technical textiles and packaging films, with a market capitalization of ₹68,222.17 Cr. This increase in shareholding reflects LIC's ongoing strategy to enhance its investment portfolio in key sectors. Investors may view this move as a positive signal regarding SRF's market positioning and long-term potential.