LIC Stake in Dr. Reddy’s Crosses 10% Mark
The Life Insurance Corporation of India (LIC) has significantly increased its stake in Dr. Reddy’s Laboratories, crossing the 10% ownership threshold through substantial share purchases since June.
Key Investment Details
India’s largest institutional investor boosted its holding from 8.21% in early June to 10.26% as of October 15, according to regulatory filings by Dr. Reddy’s.
LIC acquired 17,140,819 shares of the generic pharmaceutical giant, representing an additional 2% stake purchased through open market transactions.
Market Performance
Dr. Reddy’s shares showed modest movement, closing with less than 1% gain at Rs. 1,240.05 per share on the Bombay Stock Exchange.
This continues LIC’s pattern of increasing exposure to the pharmaceutical sector, having previously crossed the 8% stake mark in Dr. Reddy’s earlier this year.
