Life Insurance Corporation’s stake in Tata Motors Ltd has crossed 5 per cent, the insurance major said in a regulator filing.
LIC’s shareholding in Tata Motors has increased from 4.997 per cent to 5.004 per cent of the paid-up capital of the company.
The holding in the company has crossed 5 per cent on October 31, LIC said. The shares were acquired between December 3, 2021 and October 31, 2022, at an average price of ₹455.69, said LIC. This works out an investment of ₹11.9 crore in the company by LIC.
Shares of Tata Motors closed 2.16 per cent higher at ₹421.50 on the BSE.