LIC ups its investment in IRCTC by 2%, bringing its holding to 7.27%.

The Life Insurance Corporation of India (LIC) has raised its ownership share in the Indian Railway Catering and Tourism Corporation (IRCTC). The ownership has increased from 5.005 to 7.278 percent.

According to LIC’s corporate filing, the purchase of shares occurred between October 17 and December 16 at an average price of rupees 692.28.

IRCTC is an extension of the Indian Railways that manages the world’s reservation systems as well as upgrading and professionalising the food and hospitality services at stations, on trains, and other sites.

This news is written by Ms. Amrita Singh, Research Assistant, All India Legal Forum.