By Malvika Gurung
Investing.com -- The country’s largest insurance company Life Insurance Corporation Of India (NS: LIFI ) has increased its stake in the leading chemicals manufacturer Tata Chemicals (NS: TTCH ) to over 9% through market purchase.
The insurance bellwether raised its shareholding in Tata Chemicals by 2.054% in a period of approximately two months.
LIC (NS: LIFI ) bought a total of 52,32,912 equity shares of the Tata Group company through market purchases from June 27, 2023, to August 24, 2023, hiking its voting capital in the company to 9.177% from 7.123% earlier.
Post the acquisition of additional shares, the life insurance major held a total of 2,33,78,890 shares of Tata Chemicals, compared to 1,81,45,978 shares of the company held by LIC earlier.
As per Tata Chemicals’ closing share price on Friday, the state-owned life insurer’s total holding in the Tata Group midcap stock stands at Rs 2,364.19 crore.
InvestingPro’s financial models appear bullish on the Tata Group stock, setting an average fair value of Rs 1,316.05/share set on it and indicating an upside of 30.1% from the stock’s closing price on Friday.
The most bullish value has been set by the ‘DDM Stable Growth’ investing model, at a fair value of Rs 1,528 per share, indicating a strong potential upside of 51.1%.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
it means there is a problem in tata chemicals 😂Like 0