In a recent exchange filing, Life Insurance Corporation of India (LIC) announced a reduction in its shareholding in Tata Motors Limited, decreasing from 5.110% to 3.092% of the paid-up capital of the company. The shift resulted in a decrease in the number of equity shares held by LIC from 169,802,847 to 102,752,081.

This reduction in holding, reflecting a 2% decrease, occurred over the period from August 28, 2015, to December 18, 2023. The mean expense for procurement throughout this duration amounted to Rs 711.65.

Tata Motors Group, a prominent global automobile manufacturer and part of the Tata group, boasts a diverse portfolio encompassing cars, sports utility vehicles, trucks, buses, and defense vehicles.

As of the latest available data, LIC shares were trading at Rs 796.30, registering a 0.67% increase at 1:18 pm IST on Tuesday. The move in LIC’s stake indicates a strategic adjustment in its investment portfolio