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LIC Adds Shareholding in M&M Financial, Pares Stake in This Small-Cap Stock

Published 24-11-2022, 12:02 pm
© Reuters
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By Malvika Gurung

Investing.com -- The country’s largest insurance company Life Insurance Corporation Of India (NS:LIFI) has pared its shareholding in the leading graphite products manufacturing major HEG (NS:HEGL) Ltd while raising its stake in the top rural NBFC Mahindra & Mahindra (NS:MAHM) Financial Services.

The national life insurer has cut a 2.2% equity stake held in the top carbon and graphite company HEG, offloading 7.76 lakh shares through open market transactions and reducing its shareholding in the small-cap company from 6.85% to 4.84% now.

On the other hand, LIC has bought additional shares of the financial company M&M Financial Services, acquiring another 2.01% equity stake in it through open market transactions and raising its shareholding from 5.01% earlier to 7.02%.

Shares of HEG were trading 0.33% lower at Rs 1,016.6 apiece, while those of M&M Financial Services were trading muted on Thursday.

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