MUMBAI: Life Insurance Corporation of India has consolidated its stake in Bharat Forge and Vijaya Bank by 2.86 per cent and 0.35 per cent respectively.
LIC raised its stake to 7.17 per cent in Bharat Forge by acquiring 63.61 lakh shares for about Rs 166.48 crore, the forging company said in a communique to Bombay Stock Exchange.
Before the acquisition, LIC held 4.31 per cent stake in Bharat Forge.
The state-run insurer also bought 14.94 lakh shares of Vijaya Bank last week through open market transactions for Rs 7.77 crore. LIC now has 5.33 per cent in the public sectorlender as compared to 4.98 per cent stake earlier.
