LIC Cuts Stake in DCM Shriram Industries to 4.66%

New Delhi, Sep 17 (PTI) Life Insurance Corporation (LIC) on Tuesday said it has pared its stake in DCM Shriram Industries by more than 2 per cent to 4.66 per cent over a period of about three years.

In a regulatory filing, LIC said there is a net decrease of 2.016 per cent in its holding in DCM Shriram during the period October 8, 2021, and September 13, 2024. The shares were sold at an average price of Rs 110.072.

"...the Life Insurance Corporation of India has decreased its shareholding in equity shares of DCM Shriram Industries Ltd from 58,06,760 to 40,52,635 i.e., 6.675 per cent to 4.659 per cent of the paid-up capital of the said company," LIC said.

DCM Shriram Industries is primarily engaged in production and sale of sugar, alcohol and industrial fibres.

Shares of DCM Shriram Industries settled 1.77 per cent lower at Rs 194 apiece on the BSE.