LIC sold 2% shares in SAIL over 3 years, cut stake to 6.6%
This story was originally published at 20:56 IST on 29 April 2026
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NEW DELHI – Life Insurance Corp. of India has reduced its stake in Steel Authority of India Ltd. to 6.6% over three years through market sales. The state-run insurer sold 85.14 million shares, or 2.1% stake, between June 2023 and April 2026, as per an exchange filing Wednesday.
For the December quarter, LIC had reported a net profit of INR 129.58 billion on net premium income of INR 1.26 trillion. SAIL had reported a net profit of INR 4.42 billion on revenues of INR 273.71 billion. Wednesday, shares of SAIL ended slightly higher at INR 186.16 on the National Stock Exchange. Shares of LIC closed 0.6% lower at INR 812.45. End
Reported by Gunjan Rajput
Edited by Rajeev Pai
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