Canara Bank
LIC decreased its stake in Canara Bank from 4.28% to 4.10%, selling 15,700,000 shares worth ₹207.93 Cr at ₹131.80 apiece. This transaction resulted in a reduction of its shareholding by 0.18%.
A major public sector bank headquartered in Bangalore, it operates across India's financial services sector through an extensive network of branches and digital banking channels. Established in 1906 and nationalized in 1969, the bank provides comprehensive retail and corporate banking services, including deposits, lending, investment products, and wealth management solutions. Following its merger with Syndicate Bank in 2020, it significantly strengthened its market presence and expanded service capabilities nationwide.
India's largest domestic institutional investor with over Rs 56 lakh crore in total AUM, of which roughly Rs 15 lakh crore sits in listed equities. Holds stakes in virtually every major listed Indian company. When LIC builds or exits a position, it moves markets. Government-owned and mandated to invest policyholder funds in Indian equities and bonds, making it the ultimate long-only, long-term India bull.