Life Insurance Corporation of India has sold more than half a percent stake in Tamil Nadu Newsprint and Papers via open market transactions on August 25.
LIC has offloaded 4 lakh shares (equivalent to 0.58 percent of paid-up equity) in Tamil Nadu Newsprint at Rs 171 per share, the bulk deals data on the NSE showed.
As per the shareholding pattern of June 2025, LIC had held 1.8 percent stake (12.46 lakh shares) in the bagasse-based paper mill.
In fact, not only Tamil Nadu Newsprint, but most paper stocks saw strong buying interest today after the government imposed a Minimum Import Price (MIP) on virgin multi-layer paper board (VMPB), a move aimed at curbing cheaper imports.
Virgin multi-layer paper board is widely used in packaging for pharmaceuticals, FMCG, food and beverages, electronics, cosmetics, liquor, and also in publishing.
Despite the above-mentioned stake sale, the stock surged 10.57 percent to close at Rs 169.77 amid high volumes on the National Stock Exchange. In fact, the stock has seen a gap-up opening today and climbed above all key moving averages in a single session.
Meanwhile, Capital Infra Trust was under pressure today, falling 3.5 percent to Rs 76.97 despite over 1 percent stake purchases by Irish investment fund.
CIM Investment Management-managed CIM Investment Fund ICAV bought 29.2 lakh units (equivalent to 1.06 percent of total outstanding units) in Capital Infra Trust at Rs 79.45 per unit.
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