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FM ask details of LIC in Gitanjali Gems

Details have been sought after complaint received on the sharp fall in the stock price of Gitanjali Gems

August 06, 2013 12:06 IST | India Infoline News Service
The Department of Financial Services has asked details from Life Insurance Corporation (LIC) in relation to its investment in Gitanjali Gems, according to a media report.

Details have been sought after complaint received on the sharp fall in the stock price of Gitanjali Gems, the report added.

LIC is the biggest domestic institutional investor in the stock market.

The state-run insurer held 4.36% stake in Gitanjali Gems during the January-March quarter, which increased to 4.89% as of June 30.

Gitanjali scrips were trading at 59.60 per share, down 4.94% on BSE.

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