Life Insurance Corporation of India (LIC) has increased its stake in Tata Power and Bata India.
LIC’s stake in Tata Power has increased to 7.935% from 5.917%, while its stake in Bata India has increased to 6.532% from 4.497%.
LIC is the largest shareholder in both Tata Power and Bata India. The increase in LIC’s stake in these companies is seen as a positive sign by the market. It indicates that LIC is bullish on the future prospects of these companies.
Tata Power is a leading power company in India. It has a diversified portfolio of generation, transmission, and distribution assets. The company is also involved in the renewable energy sector.
Bata India is a leading footwear company in India. It has a strong brand presence in the country. The company also has a presence in international markets.
The increase in LIC’s stake in Tata Power and Bata India is likely to boost the confidence of other investors in these companies. This could lead to an increase in the share prices of these companies.
Here are some of the reasons why LIC might have increased its stake in Tata Power and Bata India:
- Both companies have strong brand presence and market share.
- Both companies are well-managed and have a track record of profitability.
- Both companies are poised to benefit from the growth of the Indian economy.
The increase in LIC’s stake in Tata Power and Bata India is a positive development for both companies. It indicates that LIC is bullish on the future prospects of these companies. This could lead to an increase in the share prices of these companies and attract more investors.