Life Insurance Corporation raises stake in Asian Paints from 5% to 7%

State-owned Life Insurance Corporation (LIC) has hiked its stake in Asian Paints by 2 per cent by buying 19.2 million shares in the open market.

As per a regulatory filing, LIC, which had 5.007 per cent stake earlier, increased its shareholding in Asian Paints to 7.01 per cent by buying shares between May 19, 2017, and February 2, 2018.

Shares of Asian Paints closed at Rs 1,121 apiece, up 0.91 per cent on the BSE.