Hindalco gains on LIC stake hike
After the transaction, the stake of LIC in Hindalco raised from 11.328% to 13.33%
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Shares of Aditya Birla-led Hindalco are trading higher by 2% to Rs 123 on the Bombay Stock Exchange (BSE) after the state-run Life Insurance Corporation (LIC) increased its stake in the company to over 13%. CLICK FOR FULL REPORT
LIC acquired 2.009 per cent stake in the firm through open market transaction between April 16 and June 17, 2015, Hindalco said in a filing to the BSE.
After the transaction, the stake of LIC in Hindalco raised from 11.328% to 13.33%.
The stock opened at Rs 122.20 and touched a high of Rs 123.40 on the BSE. A total of 145,688 shares changed hands on the BSE.
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First Published: Jun 19 2015 | 9:54 AM IST