Life Insurance Corporation of India (LIC) has pared its holding in Tamil Nadu Newsprint and Papers Ltd, offloading 4 lakh shares (0.58% equity) through open market transactions on August 25. The shares were sold at ₹171 apiece, NSE bulk deal data showed.
As of June 2025, LIC held a 1.8% stake (12.46 lakh shares) in the bagasse-based paper manufacturer.
Interestingly, despite the stake sale, Tamil Nadu Newsprint’s stock surged 10.57% to close at ₹169.77 on the NSE, supported by strong volumes. The rally came as the government imposed a Minimum Import Price (MIP) on virgin multi-layer paper board (VMPB) — used extensively in packaging for FMCG, pharma, beverages, electronics, cosmetics, liquor, and publishing — to curb cheaper imports.
The stock witnessed a gap-up opening and traded above key moving averages in a single session.
Meanwhile, Capital Infra Trust slipped 3.5% to ₹76.97, even as Ireland’s CIM Investment Fund ICAV acquired 29.2 lakh units (1.06% of total outstanding) at ₹79.45 per unit.
Disclaimer: This article is for informational purposes only and should not be considered investment advice. Please consult your financial advisor before making any investment decisions.
