LIC pares stake in NMDC from 7.6% to 5.59% 

The Life Insurance Corporation of India as an investment function reduced its shareholding in the State-owned iron ore miner NMDC from 7.61% to 5.59% in a little over 14 months.

The net decrease of 2.01% in the holding happened from September 26, 2023 to December 12, 2024 through open market sale at an average cost of ₹209.61 (per share), LIC said in a filing on Friday.

In terms of number of shares, LIC’s holding in NMDC has come from more than 22.31 crore to over 16.40 crore. On Friday, NMDC shares closed 2.91% lower at ₹233.70 apiece on the BSE.