LIC holding in Tech Mahindra increases to 8.8 per cent

Life Insurance Corporation (LIC) has raised its stake in Tech Mahindra from 6.86 per cent to 8.8 per cent.

LIC said in an exchange filing that during the November 21, 2022 to June 6, 2023 period, there was an increase of 2.01 per cent in its holding. The average buying price for these shares stood at Rs 1,050.77 per share.

Tech Mahindra Ltd provides a comprehensive range of IT services, including IT-enabled service, application development and maintenance, consulting and enterprise business solutions.

In May, LIC had announced that its shareholding in Tata Power has increased from 5.917 per cent to 7.935 per cent of the paid-up capital of the said company.