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Hot Pursuit
22-Nov-23
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LIC raises stake in Bank Of Baroda
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Life Insurance Corporation of India (LIC) informed that it increased its stake in Bank of Baroda to 26,02,17,275 equity shares from 25,77,78,275 shares earlier, taking its shareholding to 5.031% of the paid up capital of the company.
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LIC bought 24,39,000 shares at an average cost of Rs 197.99 via open market purchase on 20 November 2023. The life insurance major's holding in Bank of Baroda crossed 5% as on the same date.
Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking etc.
LIC has been providing life insurance in India for more than 65 years and is the largest life insurer in the country.
Shares of LIC shed 0.33% to Rs 609.05 while Bank of Baroda declined 1.02% to Rs 193.80 on the BSE.
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