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LIC Cuts Its Stake in GSK Pharma

Published on September 16, 2022
Current Affairs: The Life Insurance Corporation of India (LIC) diluted its stake in GlaxoSmithKline Pharmaceuticals (GSK Pharma) from 6.402% to 4.357%.
LIC Cuts Its Stake in GSK Pharma
  • The LIC sold about 2.045% or 34.20 lakh shares of its holding in GSK Pharma during the period of September 2018-22.
  • As per the LIC, in the period of 4 years, the stake sale happened at an average price of Rs. 1,549.40.
  • Apart from the LIC, the General Insurance Corporation of India (GIC), too, holds a 1.42% stake in GSK Pharma.
  • LIC is a Government of India-owned insurance and investment corporation which was founded in 1956 under the Life Insurance Corporation Act, 1956.
  • It has its headquarters in Mumbai, Maharashtra and its current Chairperson is M R Kumar.


Q.1 Recently the LIC diluted its stake in which global pharma company?
a. Moderna
b. Pfizer
c. Glaxo Pharma
d. Bharat Biotech

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