LIC raises stake in Tata Tea to 16%

The Life Insurance Corporation of India has raised its stake in Tata Tea to 16.03 per cent after buying shares worth Rs 113.10 crore through open market transactions.

The LIC has bought 12,95,212 shares, representing a 2.09 per cent stake in Tata Tea.

Prior to the purchase, the LIC held 13.93 per cent in the Tata firm.