LIC reduces its stake in DCM Shriram Industries to 4.66%

Business: Life Insurance Corporation (LIC) on Tuesday said it has reduced its stake in DCM Shriram Industries by over 2 per cent to 4.66 per cent in about three years. In a regulatory filing, LIC said there was a net reduction of 2.016% in its stake in DCM Shriram during the period from October 8, 2021 to September 13, 2024. The shares were sold at an average price of Rs 110,072. “…Life Insurance Corporation of India has reduced its shareholding in the shares of DCM Shriram Industries Limited from 58,06,760 to 40,52,635 i.e.

hr from 6.675 per cent to 4.659 per cent of the paid-up capital of the said company, LIC said. DCM Shriram Industries is primarily engaged in the manufacturing and trading of sugar, alcohol and industrial fibres. Shares of DCM Shriram Industries closed with a decline of 1.77 per cent. The stock exchange fell to Rs 194.