Insurance giant Life Insurance Corporation of India (LIC) has increased its equity shareholding in IT services provider Tech Mahindra through a series of open market transactions over a period of more than six months.
LIC’s stake in Tech Mahindra has risen from 6.869 percent to 8.884 percent, with an increase of 2.015 percent during the period from November 21, 2022, to June 6, 2023.
This move demonstrates LIC’s confidence in Tech Mahindra’s prospects and highlights the growing importance of the IT sector in India’s financial landscape.