 "LIC hikes stake in Bata to 7.05%")
LIC bought 26.11 lakh shares, amounting to 2.03 per cent stake, from open market during January 20 to December 8, 2016, according to a regulatory filing.
LIC had 5.02 per cent stake in Bata India earlier.
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For the second quarter ended September, Bata India reported 36.35 per cent fall in net profit at Rs 34.59 crore as against a net profit of Rs 54.35 crore in the year-ago period.
However, its total income from operations increased by 1.56 per cent to Rs 583.74 crore from Rs 574.73 crore during the same period a year ago.
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