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LIC has acquired NMDC shares worth over Rs 1,116 crore

Today the State owned iron ore miner NMDC said that, Life Insurance Corporation of India (LIC) has acquired almost 8 crore of its shares worth over Rs 1,116 crore.

NMDC said in a filing to BSE that, the country’s largest insurer LIC has acquired 7,98,39,172 shares or 2.013 per cent stake in the firm in a market purchase through various brokers on April 11, 2015 worth over Rs 1,116.17.

After the share purchase LIC’s stake in NMDC lifted to 10.124 per cent from 8.111 per cent it added.

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