Shares of Nippon Life India Asset Management (NAM India) rose by 4 per cent to hit a record high of ₹906.90 in intraday trade on Monday, October 13, in an otherwise weak market. NAM India share price opened at ₹860.05 against its previous close of ₹872.65 and rose 3.9 per cent to hit a new record high of ₹906.90. Around 2:15 pm, the asset management company stock traded 2.55 per cent higher at ₹894.90. Equity benchmark Sensex was 0.24 per cent down at 82,303 at that time.
LIC sells some stake in NAM India
Life Insurance Corporation of India (LIC) has sold a 2 per cent stake in the company through market sale.
According to a statement by LIC, it sold 1,20,90,202 shares, equivalent to 2.025 per cent of the total shares of NAM India in the period from September 30, 2021, to October 9, 2025, through market sale.
After the stake sale, LIC holds 1,90,20,806 shares, or 2.988 per cent of the total shares of NAM India.
NAM India share price trend
NAM India’s share price has gained approximately 18 per cent this year so far, despite hitting a 52-week low of ₹456.05 on April 7.
On a monthly scale, NAM India’s share price had been in the green from March to July this year. In August, it dipped by 3 per cent due to profit booking, but in September it resumed its upward march, rising 11 per cent. The stock has gained more than 2 per cent in October so far.
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