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LIC shares in companies and real estate: Tata steel, Maruti Suzuki, Essar oil, ONGC


LIC hikes stake in Tata Steel

NEW DELHI: Life Insurance Corporation of India has bought 9.4 lakh shares in Tata Steel from the open market, hiking its holding in the steel-making firm to a little over 14 per cent.

In a communique to the Bombay Stock Exchange (BSE), Tata Steel said that following the acquisition of additional shares on August 12, LIC currently holds 13.49 crore shares, or a 14.06 per cent stake, in the firm.

LIC had a 13.97 per cent stake in Tata Steel before the latest transaction, it said.

As of June 2011-end, Tata Steel's promoters, including Tata Sons, held a 30.60 per cent stake in the company. 



LIC holds 6.93 per cent stake in Maruti Suzuki India, while seven fund houses together hold 3.93 per cent stake.
http://articles.economictimes.indiatimes.com/2014-02-25/news/47670874_1_royalty-shareholders-parent-company


LIC buys 2% in Essar Oil for Rs 309 cr
Press Trust of India / Mumbai January 22, 2010, 15:07 IST
State-run life insurer LIC has acquired nearly two per cent stake in Essar Oil for Rs 309.4 crore through open market transactions today.
Life Insurance Corporation (LIC) has bought 2.21 crore representing 1.83 per cent stake in Essar Oil shares at the rate of Rs 140 a piece through a block deal on the National Stock Exchange, sources said.
Shares of Essar Oil plunged over six per cent to a low of Rs 138.60 in the afternoon trade on NSE. Over 2.64 crore shares changed hands on the NSE.

LIC buys Amrutanjan property

Chennai, July 8 2008
Life Insurance Corporation has acquired a 7-acre property from Amrutanjan Ltd for Rs 110 crore. According to information provided by Amrutanjan Ltd to the stock exchange, the company has sold the property at Egattur, about 20 km from Chennai, on the Old Mahabalipuram Road, to Life Insurance Corporation of India. Amrutanjan, a pharmaceutical company and manufacturers of pain balms of that brand, had a portion of its production facility and R&D facility at Egattur, which it has shifted elsewhere. According to Mr Sambhu Prasad, Managing Director, Amrutanjan Ltd, the company is in the process of finalising an expansion plan. It is shifting the 20 kilolitre production facility and the R&D centre from Egattur to a new facility at Alathur, where it has a drug intermediate and custom synthesis facility. For LIC, this is the second major acquisition in Chennai over last one year. Last year it acquired a 3-acre property at Pallavaram, a Chennai suburb, from Hindustan Unilever Ltd for over Rs 60 crore. LIC has announced major plans to exploit its existing real estate holdings and add to its property by acquiring prime property in major urban centres. Both the properties were marketed by Cushman & Wakefield, international property consultants. —
Our Bureau

http://www.thehindubusinessline.in/2008/07/09/stories/2008070951010200.htm

This time, Indian governemnt injecting a billion dollars into some state banks. It has also bought out part of the government's stake in an oil firm ONGC. It held 4% stake in 34 PSUs in December 2008. This increased to 5.6% stake in 42 PSUs at the end of 2011.
http://drkhalid.blogspot.in/2012/12/india-is-government-misusing-lic.html
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