Skip to main content

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
Labels:

Comments

Post a Comment

Popular posts from this blog

LIC Buys Double as Prices Dive - 10 Aug 2011

http://licreddy.com/Content/information/insurancenews_details.asp?NewsCode=4872 LIC Buys Double as Prices Dive 10-Aug-2011 Life Insurance Corp of India, the government's institution of choice to stabilise the stock market whenever it gets wobbly, has more than doubled stock purchases in the past three days as the global debt worry-triggered selloff made valuations attractive. LIC, the country's biggest investor with stakes in L&T, Axis Bank and Grasim, will raise its secondary market purchases this fiscal as IPOs dry up with promoters not keen to sell shares at lower valuations. "We have been buying in the past few days,'' said a LIC executive involved in decisionmaking. "With the market correcting and not many public issues coming up, we would be investing more in secondary market," said the person who did not want to be identified. LIC to Invest . 50k Cr More LIC, which had been buying stocks for an average of . 120 crore in the first four...
Post a Comment
Read more

Best IELTS and English language training institutions in Hyderabad

IELTS stands for International English Language Testing System. As the name implies it is basically an English test for testing the proficiency of the language in an individual.  Training for IELTS can be taken to pass the IELTS exam or to develop good english language skills. I am giving the training institute addresses for Hyderabad. The test system is jointly managed by the British Council,IDP education ltd and University of Cambridge ESOL Examinations and more than 1 million candidates are taking the exam all over the world. The test has two versions : 1. Academic 2. General training Academic  version is for people who plan to continue their higher education by enrolling in universities in countries like US,UK,Australia,Canada,New Zealand etc.The academic institutions in these countries consider the IELTS score as a criteria for the admission process. General training is mostly for immigration purposes in countries like Australia,New Zealand,Canada etc. It may ...
9 comments
Read more

How to use home loans most effectively for tax benefits

1) Deduction on interest: If you are paying EMIs for a home loan you took to buy a house, the interest component in the EMI can be claimed as deduction. You must be both an owner and a co-borrower (in the loan) to claim tax benefits. This deduction can be claimed starting the year in which the construction of the house is completed. Suppose the construction of your house was completed on August 30, 2014, you can claim deduction for interest for the entire 12 months in financial year 2014-15. So every year a maximum of Rs. 2 lakh can be claimed for a house that you use for your own residence. If your house is rented, the entire interest for the year can be claimed as deduction. The interest payments for the year shall result in a loss under the head 'income from house property'. This loss can be adjusted against in the same year against other heads of income in your income tax return including salary. Therefore, it reduces your total taxable income and the tax you pay thereon. A...
2 comments
Read more