India’s biggest domestic institutional investor, Life Insurance Corporation of India (LIC), slashed its stake in fertiliser company National Fertilisers Limited (NFL).
According to an exchange filing by National Fertilizers, LIC has reduced its stake in the company. Previously, LIC held 3,56,02,539 shares, representing a 7.26 per cent stake. Following the sale of 1,00,82,326 shares (equivalent to a 2.06 per cent stake), LIC’s holding now stands at 2,55,20,213 shares, representing a 5.20 per cent stake in National Fertilizers.
According to the exchange filing, the insurance behemoth bought and offloaded shares of National Fertilizers in several tranches between October 6, 2023, and January 17, 2025.
NFL share price declined about a per cent in intraday trade on the BSE on Monday, January 20. The stock opened at ₹111.35 against its previous close of ₹110.55 and declined 0.81 per cent to an intraday low of ₹109.65.
The stock has remained muted over the last year, rising by 1.6 per cent till January 17 close.
Shares of the company hit a 52-week low of ₹83 on March 14, followed by a 52-week high of ₹169.95 on July 23 last year.
In November last year, the PSU announced its entry into nano-liquid urea production.
“Shall be making forays in nano urea by launching its latest and ultra-effective variant using cutting edge nanotechnology at its Nangal plant,” the company said in an exchange filing.
The company said it will manufacture 1.5 lakh 500ml bottles per day with the new variant at its Nangal plant.
The Navratna company posted a consolidated net profit of ₹12.07 crore for the quarter ended September 2024. In the same quarter last year, the company reported a loss of ₹87.10 crore. Even for Q1FY25, the company reported a loss of ₹8.7 crore.
Read all market-related news here
Disclaimer: The views and recommendations above are those of individual analysts, experts, and brokerage firms, not Mint. We advise investors to consult certified experts before making any investment decisions.
