LIC shareholding: India’s biggest domestic institutional investor Life Insurance Corporation of India (LIC) increased its stake in public sector railway stock Container Corporation of India (CONCOR), the insurer informed exchanges on Wednesday, January 22.
LIC said its stake in CONCOR increased by 2.028% between September 6, 2024 and January 21, 2025. In September, LIC held 4.74 crore shares of CONCOR, representing a 7.78% stake in the company. The shareholding increased to 5.97 crore shares or 9.809% stake as of yesterday, January 21.
Meanwhile, in this month alone, LIC acquired nearly 40 lakh shares of CONCOR. Its stake at the end of the December 2024 quarter stood at 5.57 crore, which increased to 5.97 crore shares as of January 21. The insurer picked the stake in CONCOR via open market purchases, signalling faith in the company’s outlook.
As of the previous close of ₹755.45 apiece on the BSE, LIC’s stake in CONCOR is worth nearly ₹4,515 crore.
CONCOR Share Price Performance
The PSU railway stock Container Corporation of India shares have performed poorly in the last one year, with the stock declining 15% during this period. On one-month, three-month and six-month basis too, the stock performance has been dismal, declining 3%, 12% and 26%, respectively.
CONCOR Q3 FY25 Results Date
CONCOR earlier this month informed exchanges that its board will meet on Thursday, January 30 to consider results for the quarter ended December 2024. The board of the PSU company will also consider interim dividend, if any.
“Pursuant to Listing Regulations, it is hereby informed that a meeting of the Board of Directors of CONCOR is scheduled to be held on Thursday, 30th January, 2025, to consider inter alia the: (i) approval of unaudited Financial Results for the quarter and period ended on 31st December 2024, and (ii) declaration of 3rd Interim Dividend for 2024-25, if any, to the shareholders,” CONCOR said in an exchange filing on January 8, 2025.
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