Life Insurance Corporation of India (LIC) has acquired 6.64 lakh shares of drug maker Cadila Healthcare through an open market transaction.
The insurance company said it acquired 6,64,104 shares of Cadila Healthcare, amounting to an additional stake of 0.065 per cent in the company, on Monday.
With this acquisition, LIC's stake in Cadila Healthcare has increased to 5.036 per cent from 4.971 per cent earlier, the insurance giant said on Tuesday.
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The disclosure was made under SEBI's SAST Regulations, which require companies and persons holding over 5 per cent shares in a listed company to inform about acquisition of shares.
As per the shareholding pattern of Cadila Healthcare, the promoter and promoter group held 74.88 per cent stake in the company at the end of June quarter.
The company reported a 29 per cent increase in consolidated net profit at Rs 587 crore for April-June quarter, while revenue from operations rose 15 per cent to Rs 4,025 crore.
Shares of Cadila Healthcare were trading 0.33 per cent lower at Rs 551.80 on the BSE during the afternoon trade on Wednesday.
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