LIC raises stake in Dr. Reddy’s
The Hindu
LIC increases stake in Dr. Reddy's Labs to over 8%, acquiring more than 2% since October 2024.
Life Insurance Corporation of India’s stake in Dr. Reddy’s Laboratories raced past the 8% mark recently with the country’s largest institutional investor acquiring an additional, more than 2% in the generic drugmaker since October 2024.
From about 6.20%, the holding increased to 8.21% in a period of less than eight months through open market purchases. In terms of number of shares, LIC had acquired more than 1.67 crore during this period, the Hyderabad-headquartered pharma major said in a filing.
Dr. Reddy’s shares closed 3.01% higher on Thursday at ₹1,289.90 apiece on the BSE.
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