LIC pares stake in Aurobindo Pharma | Capital Market News

Life Insurance Corporation of India (LIC) disclosed that it has decreased its stake in Aurobindo Pharma from 5.01%to 2.265%.

The life insurer sold ‬‬ 1,61,98,470 shares, or 2.745% equity, at an average cost of Rs 1,187.231 via open market sale during the period from 25 November 2021 to 12 September 2024.

Aurobindo Pharma is principally engaged in manufacturing and marketing of active pharmaceutical ingredients, generic pharmaceuticals and related services.

LIC has been providing life insurance in India for more than 65 years and is the largest life insurer in the country.

Shares of LIC added 0.25% to close at Rs 1,034 while those of Aurobindo Pharma rose 0.47% to end at Rs 1,567.60 on Friday, 13 September 2024.

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