MoneyWorks4Me

LIC buys 3.90% additional stake in NTPC

26 Feb 2016 Evaluate

State-owned Life Insurance Corporation (LIC) has increased its stake in India's largest power producer NTPC by 3.90% after buying 32.15 crore shares in the open market.

State-owned insurer, which had 9.08% stake earlier, hiked its shareholding in the company to 12.98% by buying shares between July 25, 2014, and February 24, 2016. LIC's stake increase in NTPC includes its participation in this week's offer of sale (OFS) by the government.

NTPC is the largest power generating company in the country. It has also diversified into hydro power, coal mining, power equipment manufacturing, oil & gas exploration, power trading & distribution.

Peers
Company Name CMP
NTPC 316.70
Tata Power 350.00
Adani Power 196.95
Power Grid Corpn. 254.65
Adani Energy Solut. 1325.50
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