Life Insurance Corporation of India’s holding in Dr. Reddy’s Laboratories has crossed 5% with the institutional investor purchasing more than 1.08 lakh shares of the drugmaker.
The shares were acquired from the open market, as an investment function, at an average price of ₹6,059.82 each, LIC said in a filing on Thursday. Consequently, the holding increased from 4.95% to 5.01%. In terms of number of shares, LIC holds 83,69,879 shares of Dr. Reddy’s. Dr. Reddy’s shares closed 0.53% higher on Thursday to ₹6,095.10 apiece on the BSE.
