LIC Boosts Cipla Stake to 9.1% After Acquiring Over 2% in Three Months

• Life Insurance Corp. of India Ltd. (LIC) increased its shareholding in Cipla Ltd. to 9.09% by acquiring over 2% in three months.
• This makes LIC a larger shareholder in the pharmaceutical company, continuing its exposure.
• Cipla reported a consolidated net profit of ₹6.76 billion and revenue of ₹70.74 billion for the December quarter.
• Brokerages like Jefferies and HSBC downgraded Cipla after Q3 results due to weaker-than-expected performance, soft US sales, and supply disruptions.
• Macquarie maintained an "Outperform" rating, believing the share price correction reflects near-term headwinds.