Website of ARIVUKKADAL for sharing updates of LIC and Insurance Industry
About Me
- Arivukkadal
- Trichy, Tamil Nadu, India
- Working as an Assistant in LIC of India, Rockfort BO, Trichy, TN. Having a strong belief that LIC's welfare is our welfare and always trying to work towards that. I'm a member of AIIEA.
Sunday, September 6, 2015
Friday, September 4, 2015
Rs.161.75 Crore profit in one day
Source: The Financial Express
IOC share jumped 4.36% in volatile trade on Tuesday, reflecting a mark-to-market gain of Rs 161.75 crore on LIC’s investment.
IOC share jumped 4.36% in volatile trade on Tuesday, reflecting a mark-to-market gain of Rs 161.75 crore on LIC’s investment.
Life Insurance Corporation (LIC) of India acquired a
“substantial” quantum of shares in the Indian Oil Corporation (IOC)
offering on Monday, valuing the investment in the state-owned refiner at
Rs 8,077 crore, showed stock exchange disclosures.
The insurance behemoth purchased 20.87 crore shares, representing an
8.59% stake, in the secondary market offering that saw lukewarm response
from foreign institutions and retail investors amid a rout in global
equities. LIC’s stake in IOC will now rise to 11.11% from 2.52% earlier.
After the stake sale, the government’s stake sale drops to 58.57%.
The government sold 10% of the equity capital of the oil refiner at a
floor price of Rs 387 per share, mopping up more than
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