Life Insurance Corporation of India has hiked its stake in Gail India
to 10.1% after purchasing over 13.40 lakh shares through the open
market. In a filing to the Bombay Stock Exchange, Gail India said LIC
has purchased over 13.40 lakh shares representing 0.1% stake.
Calculated on the basis of February 2 closing price, the transaction is
expected to cost over Rs 26.83 crore to LIC. Prior to the aforesaid
purchase LIC held 9.99% stake, while now it holds over 12.81 crore
shares. Shares of Gail India settled at Rs 200.55, up 1.67% on the BSE.
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