Insurance behemoth Life Insurance Corporation of India (LIC) on Monday, April 24, said it has increased its shareholding in L&amp;T Technology Services Ltd (LTTS) from 52,68,029 to 52,89,396 equity shares, taking its stake of the paid-up capital in the company from 4.988 percent to 5.008 percent.

The company said the acquisition of shares was done during the period from October 20, 2021, to April 21, 2023, at an average cost of Rs 4,140.67.

As per the company's exchange filing, the holding of LIC in L&amp;T Technology Services Ltd has crossed 5 percent as on April 21. It also said the market capitalisation of L&amp;T Technology Services stands at Rs 35,843.93 crore.

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L&amp;T Technology Services is a listed subsidiary of Larsen &amp; Toubro Ltd, focused on engineering and ER&amp;D (engineering research and development) services. It offers consultancy, design, development, and testing services across the product and process development life cycle.

The customer base of L&amp;T Technology Services includes 69 Fortune 500 companies and 57 of the world’s top ER&amp;D companies, across industrial products, medical devices, transportation, telecom &amp; hi-tech, and process industries.

LIC hikes stake in L&T Technology Services to just over 5 percent

The company said the acquisition of shares was done during the period from October 20, 2021, to April 21, 2023, at an average cost of Rs 4,140.67. Shares of L&T Technology Services Ltd ended at Rs 3,430.30, up by Rs 44.90, or 1.33 percent on the BSE.

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LIC hikes stake in L&T Technology Services to just over 5 percent

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