LIC Stake In Hindustan Unilever Is Now Over 5%

Life Insurance Corporation of India on Monday said its stake in FMCG major Hindustan Unilever Ltd. has crossed 5%. The Corporation has increased its shareholding in Hindustan Unilever Limited from 11,74,63,555 to 11,77,18,555 equity shares, i.e., 4.99% to 5.01% of the paid-up capital of the company, LIC said in a regulatory filing.

The insurer purchased additional shares from the open market in the ordinary course of transaction, it said.

Holding in the company touched 5% and the acquisition of shares was done on April 12 at an average cost of Rs 2,248.59 per unit.

Shares of HUL ended 1.72% down at Rs 2,194.60 while that of the country's largest state-owned insurer, LIC, closed at Rs 961.15 apiece on BSE, down by 1.03%.