New Delhi: Life Insurance Corporation (LIC) of India has invested in Dr Lal PathLabs in the quarter ending with December 2021. The news of the country’s largest insurer buying the stake in the diagnostics and healthcare tests chain buoyed shares of Dr Lal PathLabs.
On Thursday (January 13), Dr Lal PathLabs shares surged 2.59% to Rs 3,768. On Wednesday, the shares of the diagnostics and healthcare tests chain had closed at Rs 3,673 on BSE. With the rise in the share prices of Dr Lal PathLabs, the company’s market capitalisation jumped to Rs 31,187 crore.
However, according to the latest shareholding pattern of Dr Lal PathLabs for the quarter ended December 2021, LIC has bought a 1.12% stake or 9,31,246 equity shares in the diagnostic services retail chain.
In the July-September 2021 quarter, LIC did not hold a stake in Dr Lal PathLabs. This suggests that LIC invested in Dr Lal PathLabs in the quarter ended December 2021.
Meanwhile, mutual funds have also increased their respective stakes in Dr Lal PathLabs in the quarter ended December 2021. According to the latest shareholding pattern, mutual funds increased their stake in the company to 3.34% or 27,82,681 shares against 3.26% or 27,17,883 shares during the quarter ended September 2021. Also Read: WhatsApp new feature: Soon, users will be able to hear voice notes in background
Two weeks ago, technical Analyst Nilesh Jain also pointed out his bullishness on Dr Lal PathLabs. At that time, he had set a target price between Rs 3800 and Rs 3900 on the healthcare company, according to a report by Zee Business. Also Read: Cashback of up to Rs 10,000 on Apple MacBook, iPhone 13, iPhone 12 and more till March 31–Here’s what to do