Comments
LIC has offloaded over 2 per cent stake in Bank of Baroda in an open market sale during the last 2 months.
On Friday, Bank of Baroda shares were trading higher by Rs 1.55 or 0.92 per cent at Rs 170.60 on the BSE at about 10 am.
Life Insurance Corporation owned nearly 7.25 per cent stake in Bank of Baroda equivalent to 16,70,18,926 shares before the open market sale, Bank of Baroda said in a regulatory filing.
The public sector bank said LIC shed stake in a market sale during September 1 to November 29.
The life insurer has shed about 2.06 per cent (4,73,41,007 shares) it held in the bank, post which its holding came down to around 5.19 per cent (11,96,77,919 shares).
Calculated on the weighted average price (WAP) of Rs 155.24 per share during the 62 days period, the valuation of the sale comes around Rs 734.92 crore.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.