The shares of the largest insurance provider company in India surged 1.2 percent on BSE to Rs. 1,033.9 during Wednesday’s trading session, with a market capitalization of Rs. 6.47 lakh crores.
Established in 1956, Life Insurance Corporation (NS:LIFI) of India is a statutory corporation engaged in the business of life insurance in and outside India, and offers a range of individual and group insurance solutions including participating, non-participating and unit-linked lines of businesses.
The company’s portfolio comprises of various insurance and investment products such as protection, pension, savings, investment, annuity, health and variable.
In September, LIC increased its holdings in several companies, boosting its stake in Container Corporation (NS:CCRI) of India Limited from 5.773 percent to 7.781 percent, and in Indian Railway Catering and Tourism Corporation Limited (IRCTC (NS:INIR)) from 7.278 percent to 9.298 percent.
As of June 30, LIC’s public shareholdings include 95 stocks with a total net worth exceeding Rs. 2.04 lakh crores.
Is Biocon a buy or sell? What is its Fair Value? What are the company's health parameters? What are the positive and negative factors driving the company -- ProTips? Know all the answers on the company's overview page here.
According to the latest filings from September 17, LIC has acquired stakes in two additional companies, mentioned below:
Biocon (NS:BION) Limited
With a market cap of Rs. 43,930 crores, the shares of a global biopharmaceuticals company surged nearly 0.2 percent on BSE to Rs. 376 during the trading session of Wednesday.
LIC increased its shareholding in equity shares of Biocon from around 5.98 crore shares to 6.03 crore shares, at an average cost of Rs. 378.922 per share through an open market purchase.
The holding increased from 4.982 percent to 5.023 percent of the paid-up capital of the company, reflecting a net increase of 0.041 percent in its holding.
The company has reported a marginal growth in revenue from operations, with around a 0.3 percent YoY rise from Rs. 3,423 crores in Q1 FY24 to Rs. 3,433 crores in Q1 FY25. Similarly, the net profit increased by 478.5 percent YoY from Rs. 149 crores to Rs. 862 crores, during the same period.
The stock has delivered positive returns of nearly 33.4 percent in one year, as well as around 42.6 percent returns year-to-date.
Biocon Limited is engaged in the business of manufacturing biotechnology products and research services.
Suraj Estate Developers Limited
With a market cap of Rs. 3,539.2 crores, the shares of a leading real estate developer focused on South Central Mumbai (SCM) surged 3.7 percent on BSE to Rs. 805 during the trading session of Wednesday.
LIC Mutual Fund through its Flexi Cap Fund purchased around 2.83 lakh equity shares worth nearly Rs. 21.52 crores, at an average price of Rs. 758.89 per share, through an NSE bulk deal.
The company has reported a significant growth in revenue from operations, with around a 31.4 percent YoY rise from Rs. 102 crores in Q1 FY24 to Rs. 134 crores in Q1 FY25. Similarly, the net profit increased by 100 percent YoY from Rs. 15 crores to Rs. 30 crores, during the same period.
The stock has delivered multibagger returns of nearly 138.7 percent in one year, as well as around 141.3 percent returns year-to-date.
Incorporated in 1986, Suraj Estate Developers Limited is primarily engaged in the business of real estate development in India, and is focused primarily on value luxury, luxury and commercial segments.
Written by Shivani Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
The post Bulk Deal: 2 Stocks jump 3.7% after LIC bought stake in the companies appeared first on Trade Brains.
To understand more about InvestingPro, watch this video: https://www.youtube.com/watch?v=_WfQcN5vjI