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MUMBAI: The country's largest insurer, Life Insurance Corporation of India, (LIC) has increased its stake up to 5.28 per cent in coffee producer and exporter, Tata Coffee, purchasing shares worth Rs 1.63 crore through open market transactions.

LIC of India has purchased 82,667 shares representing 0.44 per cent stake in the company, Tata Coffee said in a disclosure on the Bombay Stock Exchange.

Prior to the buy-out, LIC held 4.84 per cent stake. Now it holds 5.28 per cent or 9.87 lakh shares of Tata Coffee. Shares of Tata Coffee today settled at Rs 196.60, down 1.26 per cent on the BSE. - PTI

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