LIC raises stake in Dr. Reddy’s

In terms of number of shares, LIC had acquired more than 1.67 crore during this period, Dr. Reddy said in a filing.
| Photo Credit: Reuters

Life Insurance Corporation of India’s stake in Dr. Reddy’s Laboratories raced past the 8% mark recently with the country’s largest institutional investor acquiring an additional, more than 2% in the generic drugmaker since October 2024.

From about 6.20%, the holding increased to 8.21% in a period of less than eight months through open market purchases. In terms of number of shares, LIC had acquired more than 1.67 crore during this period, the Hyderabad-headquartered pharma major said in a filing.

Dr. Reddy’s shares closed 3.01% higher on Thursday at ₹1,289.90 apiece on the BSE.