LIC hikes stake in ICICI Bank

Life Insurance Corporation of India (LIC) today said it has purchased 2.27 crore shares of country's largest private sector lender ICICI Bank.

LIC now holds over 10.44 crore shares representing 9.38 per cent stake in the bank.

In a filing to the National Stock Exchange, the bank said that LIC has purchased 2.27 crore shares representing 0.048 per cent stake in the bank.

On Friday, shares of ICICI Bank closed at Rs 335.85, down 7.10 per cent on the NSE.