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LIC of India hikes minor stake in Tech Mahindra

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Life Insurance coverage Company of India (LIC) purchased 85,000 fairness shares or 0.09% stake in Tech Mahindra, on Friday, 22 April 2022.

Put up transaction, Life Insurance coverage Company of India (LIC) elevated its shareholding to 4.86 crore fairness shares or 5.001% stake from 4.85 crore fairness shares or 4.992% stake. The deal was executed as a market buy.

As per reviews, the much-awaited preliminary public providing of the Life Insurance coverage Company of India (LIC) is more likely to open on 4 Might 2022 and shut on 9 Might 2022. The federal government is more likely to value LIC IPO at Rs 950-1,000 per share. By looking for Rs 21,000 crore from the proposed IPO, the federal government targets a valuation of Rs 6 trillion for the insurer.

The IT providers firm reported 6.82% enhance in consolidated web revenue to Rs 1,378.20 crore on 18.69% rise in income from operations to Rs 11,450.80 crore in Q3 December 2021 over Q3 December 2020.

Tech Mahindra is targeted on leveraging next-generation applied sciences together with 5G, Blockchain, Cybersecurity, Synthetic Intelligence, and extra, to allow end-to-end digital transformation for world prospects.

Shares of Tech Mahindra rose 0.38% to Rs 1,275.75 on BSE.

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(This story has not been edited by Enterprise Normal workers and is auto-generated from a syndicated feed.)

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