Life Insurance Corporation of India has hiked its stake to 13.34 per cent in Siemens, a part of German conglomerate, after purchasing shares worth over Rs 213.25 crore, through an open market transaction.
LIC has purchased 6.75 million shares, representing 2 per cent stake in the company, for Rs 213.25 crore, the company said in a filing to the Bombay Stock Exchange.
Prior to the purchase, LIC held 11.34 per cent stake. It now holds 13.34 per cent or 4,49,86,583 shares of Siemens.
The stock today closed at Rs 466.25 on the BSE, up 2.70 per cent from its previous close.
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