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LIC buys about 4.66% stake in BHEL

India's largest life insurer has bought scrips worth Rs. 18.89 billion in BHEL through an open market transaction

March 04, 2014 5:31 IST | India Infoline News Service
Life Insurance Corporation of India has bought around 4.66% stake in power equipment maker BHEL.
India's largest life insurer has bought scrips worth Rs. 18.89 billion through an open market transaction.
LIC has purchased 11.41 crore shares in BHEL at a price of Rs 165.55 apiece through a block deal on the BSE.
Ministry of Heavy Industry and Public Enterprises, the parent ministry of BHEL, has for long opposed the proposed disinvestment in the company pointing out volatile market conditions.


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