LIC trims stake in large-cap pharma stock despite 20% YTD return

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Despite mutual funds raising their shareholding in Sun Pharmaceutical Industries during July to September 2022 quarter, Life Insurance Corporation (LIC) of India has cut down its stake in the large-cap pharma stock during second quarter of the current financial year. As per the shareholding pattern of Sun Pharmaceutical Industries Ltd for July to September 2022 quarter, LIC has trimmed its stake in the company from 5.49 per cent to 4.38 per cent. Mutual funds raised their stake in Sun Pharmaceutical Industries from 11.84 per cent to 12.22 per cent during Q2FY23.

LIC shareholding in Sun Pharmaceutical Industries

As mentioned above, in shareholding pattern of Sun Pharmaceutical Industries Ltd for July to September 2022 quarter, LIC holds 10,51,66,136 Sun Pharma shares, which is 4.38 per cent of total paid up capital of the company. However, in shareholding pattern of the company for April to June 2022 quarter, LIC used to hold 13,16,69,295 Sun Pharma shares, which was 5.49 per cent of total paid up capital of this large-cap pharma company. This means, the insurance company trimmed its stake in Sun Pharma during Q2FY23 by selling out 2,65,03,159 Sun Pharma shares or 1.11 per cent stake in the company.

During July to September 2022 quarter, mutual funds raised their shareholding from 28,39,83,754 shares or 11.84 per cent stake to 29,31,10,117 shares or 12.22 per cent of total paid up capital of the company.

Sun Pharma share price history

Sun Pharma shares have given decent return to its shareholders in year-to-date (YTD) time. In 2022, Sun Pharma share price ascended from around 845 apiece levels to 1,010 per share levels, giving near 20 per cent return to its positional long term investors. In last one year, this large-cap pharma stock has given over 27 per cent by surging from around 790 to 1,010 apiece levels on NSE.

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