LIC raises stake in Coal India to 9.4pc

Insurance behemoth Life Insurance Corporation (LIC) of India has hiked stake in state-owned Coal India to 9.4 per cent, the coal major said.

Coal India (CIL) said in a filing to BSE that LIC bought 2 per cent share in the PSU through Open Market Purchase from "January 1, 2015 -October 31, 2017."

The PSU which accounts for over 80 per cent of the domestic coal production is eyeing 600 million tonnes of output in the ongoing fiscal.