LIC hikes stake in Tata Steel to 12 pc

Lif e Insurance Corporation of India has hiked its
stake in Tata Steel to 12.10 per cent af ter purchasing shares
worth Rs 573.40 crore, through an open market transaction.
LIC has bought 1,54,48,085 shares, representing 2.114 per
cent in the company , f or Rs 573.40 crore, Tata Steel said in a
disclosure on the Bombay Stock Exchange.
Prior to the purchase, LIC held 9.89 per cent, while now it
holds 12.1 per cent stake or 8,84,09,445 shares of Tata Steel.
Shares of Tata Steel today closed at Rs 414.75 on the BSE,
up 4.13 per cent f rom prev ious f iscal.