LIC hikes stake in Syndicate Bank

LIC has raised its stake in Syndicate Bank to11.33 per cent from 9.27 per cent. The insurance major purchased 1.075 lakh shares between February 3 and 21, said Syndicate Bank in a disclosure to the NSE.

LIC now holds around 5.913 crore shares of Syndicate Bank. At the end of December 2010, the other major stakeholders are AKG Finvest (1.17 per cent) and Uno Metals (1.45 per cent). FIIs' holding stood at 4.8 per cent and retail investors at 10.79 per cent.

The Syndicate Bank's stock slipped about Rs 2 to close at Rs 109.75 against the previous day's close of Rs 112.45.