LIC offloads 2% in GSFC


Life Insurance Corporation of India (LIC) sold 80,39,091 equity shares or 2.017% stake of Gujarat State Fertilizers & Chemicals (GSFC) from 23 June 2014 to 8 April 2022.

Post transaction, Life Insurance Corporation of India (LIC) decreased its shareholding to 2,41,42,861 equity shares or 6.059% stake from 3,21,81,952 equity shares or 8.076% stake held earlier in NHPC. The deal was executed as market sale.


Shares of GSFC were trading 2.56% lower at Rs 175.30 on BSE in morning trade.

GSFC manufactures fertilizers and industrial chemicals. The company reported a 152% jump in consolidated net profit to Rs 245.53 crore in Q3 FY22 from Rs 97.25 crore posted in Q3 FY21.

Powered by Capital Market – Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.


First Published: Tue, April 12 2022. 09:59 IST


Source link


What do you think?

5k Points
Upvote Downvote

Written by admin

Leave a Reply

Your email address will not be published.

GIPHY App Key not set. Please check settings

Insurance Sector Results Preview: APE Growth Maybe Moderate

Insurance Sector Results Preview: APE Growth Maybe Moderate

3 reasons I ditched my life insurance when I bought my first home