The new share ownership pattern was released by Dr. Lal Pathlabs Ltd. at BSE showed that the Insurance Giant Life Insurance Corporation of India (LIC) had taken shares in health care companies during the October 2021 period. DR Lal Pathhlab shares jumped more than 2% on ₹ 3.765 each at BSE in an early offer on Thursday.

The LIC name has emerged in the ownership of December shares from Dr. Lal Pathhlabs for buying 1.12% of the shares or 9.31.246 equity stocks in the diagnostic service provider during the third quarter (Q3) of current fiscal data, BSE data shows. Insurers and state-owned investment giants do not have shares in the company in the previous quarter in the period July-September 2021.

On the other hand, mutual funds (MFS) have increased their holding in the company because their pegs were at 3.34% or 27,82,681 shares at the end of December, increased from 3.26% or 27.17,883 shares during the second quarter.

Dr. Lal Pathlab shares have surged more than 55% in a period of one year while shares rose more than 6% in the last six months compared to a 16% increase in the benchmark sensex. One of the top Indian diagnostic chains, the company has locations for diagnostic laboratory services with more than 5000+ diagnostic tests and related health tests and health services offered.

The company has posted a 10.6% increase in consolidated net income on ₹ 96 Crore for the second quarter which ended September 2021 of ₹ 87.1 crore in the period last year. Revenue rose 15.4% to ₹ 498.4 Crore during the quarter compared to ₹ 431.9 crore at Q2FY21.

Separately, LIC IPO-bound has also purchased new shares in the Group Group of Tata ElxSi during Q3FY22 with 1.04% equity, BSE data shows.