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Life Insurance Corporation of India on Friday bought 2.7 lakh shares (0.1 per cent stake) of Bharat Forge from the open market, the latter informed the exchanges on Monday. Following the acquisition, LIC’s stake in the forging company rose to 5 per cent from 4.9 per cent earlier. Bharat Forge is a Pune-based multinational company with interests in automotive, power, oil and gas, construction, mining, locomotive, marine and aerospace industries. Shares of Bharat Forge slipped 0.8 per cent at ₹794.40 on the NSE.
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