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Hot Pursuit
23-Aug-23
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LIC hikes stake in Mphasis
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Life Insurance Corporation of India (LIC) informed that it increased its stake in Mphasis to 5.054% from 4.991% earlier.
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LIC bought 1,18,200 shares at an average cost of Rs 2,343.58 via open market purchase on 21 August 2023. The life insurance major's holding in Mphasis crossed 5% as on the same date.
Mphasis is an information technology (IT) solutions provider specializing in cloud and cognitive services.
LIC has been providing life insurance in India for more than 65 years and is the largest life insurer in the country.
Shares of LIC shed 0.64% to Rs 659.55 while Mphasis declined 0.62% to Rs 2,351.30 on the BSE.
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