New Delhi, March 4 -- Granules India share price traded over a percent higher on Tuesday despite the weakness in the broader Indian stock market. Granules India shares gained as much as 1.02% to Rs.478.00 apiece on the BSE.

Life Insurance Corporation of India (LIC), the state-owned insurance giant, has increased its stake in pharmaceutical company Granules India. In a regulatory filing, LIC disclosed that its shareholding in the company has surpassed the 5% threshold following the latest equity purchase.

On February 27, LIC acquired 79,000 equity shares of Granules India, representing a 0.032% stake in the company. Prior to this acquisition, LIC held 1,21,03,570 shares, equating to a 4.991% stake in the company.

With the latest purchas...