LIC Hikes Stake In Railway Sector 'Miniratna' PSU IRCTC To 9.3%

New Delhi: Life Insurance Corp (LIC) on Thursday said it has hiked its stake in Indian Railway Catering and Tourism Corporation (IRCTC) to about 9.3 percent. LIC said its holding in railway sector 'miniratna' PSU has increased 2.02 per cent in the period December 16, 2022, to September 11, 2024, via open market purchases.

"Pursuant to Regulation 30 of the Listing Regulations, this is to inform that the Life Insurance Corporation of India (“the Corporation”) has increased its shareholding in equity shares of Indian Railway Catering and Tourism Corporation Ltd. (“Company”) from 5,82,22,948 to 7,43,79,924 i.e., 7.278% to 9.298% of the paid-up capital of the said Company," LIC said in a regulatory filing.

IRCTC is a Mini Ratna and the only company authorized by the Indian Government to provide online tickets, catering services, and packaged drinking water at railway stations and trains in India.

Shares of LIC closed at Rs 1031.45, up 1.81 per cent over the previous close on the BSE.