LIC hikes stake in Bharati Shipyard to 9.66%

Life Insurance Corporation has raised its stake in Bharati Shipyard to 9.66 per cent, after acquiring nearly three per cent stake for over Rs 12.05 crore through open market transaction.     

In a disclosure to the Bombay Stock Exchange, Bharati Shipyard said LIC has acquired 7,21,746 shares representing 2.62 per cent stake in the company for Rs 12,05,47,591.     

LIC, which held 7.05 per cent stake in Bharati Shipyard, now holds over 26.64 lakh shares or 9.66 per cent stake in the company, pursuant to acquisition of shares between June 18- June 24, 2009.     

Shares of Bharati Shipyard closed at Rs 167.10, down 0.15 per cent on the BSE.