LIC Ups Stake In HAL, FIIs Holding Moderates In June Quarter

Hindustan Aeronautics Limited filed its latest shareholding data with the exchanges on Wednesday.

What Happened: As per the data from the Bombay Stock Exchange, India’s biggest insurer, LIC, raised its stake in the defence major during the April-June quarter. As of June 30, LIC owns around 1.36 crore shares or a 2.03% stake in the company. This is higher than the 1.89% stake it held at the end of the March quarter.

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On the other hand, foreign portfolio investors trimmed their stake in the company during the June quarter. Foreign portfolio investors currently hold around 11.68% stake in the public sector company. At the end of March, they held a 12.42% stake in the company.

Last month, HAL saw a major request for proposal from the Defence Ministry for 156 homegrown light combat helicopters, valued at ₹45,000 crore. HAL will submit a price quote to the Ministry of Defence, which will be followed by cost negotiations to finalise the deal. 

Price Action: HAL’s share price was down 0.03% to trade at ₹5,483.05 in early trade on Thursday.

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