The country’s largest life insurance company, LIC, has raised its stake in public sector lender State Bank of India to 9.16 per cent by acquiring additional 1.34 crore shares of the bank for Rs 1,484.12 crore.
LIC has also increased its stake in Cummins India and IOB.
As reported to Bombay Stock Exchange (BSE), LIC has raised its stake in engine maker Cummins India Ltd by 2.18% via open market purchases. LIC has acquired 4.3 million Cummins India shares between Jan 29, 2009 and March 03, 2009.
LIC, has also hiked its stake in Indian Overseas Bank (IOB) to 9.96 per cent after purchasing additional shares worth Rs 57.65 crore through open-market transaction.
Grab the opportunity to book huge profits by EquityPandit.com Paid Services Check Out the Profits.
Leave a comment