Life Insurance Corp of India, one of the largest domestic institutional investors in india has increased its stake in Hindustan Unilever Ltd, Hero MotoCorp and non-banking finance firm Capri Global Capital through open market purchases over the last few months, the state-owned LIC said in a regulatory filing on Tuesday.
The life insurer's shareholding in Hero MotoCorp, which is a leading manufacturer of motorcycles and scooters, has increased from 1,83,10,233 to 2,24,91,571 equity shares, or from 9.163% to 11.256% of the paid-up capital of the firm, the corporation said in a statement.
The change in holding was during the period from 4 January last year to 13 June this year, it said, adding the stocks were bought through open market purchases at an average cost of ₹3,050.14.
In another filing, it said LIC’s shareholding in Hindustan Unilever (HUL) has increased from 11,73,80,500 to 11,76,90,500 equity shares, aggregating to 5.008% of the paid-up capital of the company.
"Holding (in Hindustan Unilever) increased from 4.995 per cent to 5.008 per cent as on 13th June 2022 at an average cost of ₹2206.93," the company's statement read.
The FMCG major is into home care, beauty and personal care; and foods and refreshment segments.
Besides, LIC's shareholding in Capri Global Capital has increased from 88,58,348 equity shares to 1,24,00,000 equity shares or from 5.043% to 7.059%.
The holding increased during the period from 21 February to 10 June, through open market purchases at an average cost of ₹624.61, it said.
Capri Global is an NBFC with presence across different segments like MSME, construction finance, affordable housing and indirect retail lending segments.
LIC shares on Tuesday closed at ₹674.20 apiece on BSE, up by 0.9% from its previous close. Hero MotoCorp scrip ended 1.74% lower at ₹2552.50; HUL at ₹2172.25 apiece, down by 1.08%, while Capri Global scrip ended 0.48% down at ₹690.95.