LIC Increases Stake in Central Bank of India to 6.06%
LIC Increases Stake in Central Bank of India
The State-owned insurer, Life Insurance Corporation (LIC), has significantly increased its stake in Central Bank of India. In a recent disclosure to stock exchanges, LIC has revealed that it has acquired a substantial number of shares in the public sector lender.
According to the disclosure, LIC has purchased 26.26 crore shares, representing a 2.901 per cent stake, in Central Bank of India through market purchases on May 22. This significant acquisition has resulted in LIC's holding in Central Bank of India increasing to 6.06 per cent, up from its earlier stake of 3.16 per cent.
| Entity | Stake | Change |
|---|---|---|
| LIC | 6.06% | +2.90% |
| Central Bank of India |
Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
The shares of Central Bank of India closed at Rs 31.29 on the BSE, marking a slight decline of 0.03 per cent from its previous close.
Investor Takeaway
No significant impact on investor decisions.
More in Market
Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline
Indian Stocks to Watch: BHEL, Agarwal Industrial, JBM Auto, Rajesh Exports, Indian Energy Exchange, Lenskart Solutions in Market Focus on June 4.
