LIC increases stake in this Nifty bluechip stock through open market

June 7, 2023

Life Insurance Corp (LIC) has raised its stake in Indian IT services firm Tech Mahindra to 8.8% from 6.8%, having added 1.96 crore shares through open market transactions. LIC saw its income from investments increase slightly to INR67,846 crore ($10.5bn) for the January-March period. Tech Mahindra shares ended 0.85% higher at INR1,095 on the NSE on 28 June, and the company has an average target of INR1,086.09, just under the current price, according to Trendlyne.

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