2 weeks Ago By NDTV Profit Desk
Life Insurance Corp. said that it has raised its stake holding in the state-run Bank of Baroda from 2% to 7.05%.
The insurance provider has mopped up additional 10.45 crore shares over a time frame of one-and-a-half years through an open market transaction, PTI reported, citing regulatory filing.Following the acquisition, which took place between Nov.
20, 2023, and April 16, 2025, LIC's stake in the Mumbai-based bank has increased to 7.05%,Shares of LIC closed 1.78% higher at Rs 817.
50 apiece on the National Stock Exchange, compared to a 1.15% rise in the benchmark Nifty. The stock has fallen 16.
12% in the last 12 months and 8.35% on a year-to-date basis.Out of 21 analysts tracking the company, 16 have a 'buy' rating on the stock, four recommend 'hold' and one suggests 'sell', according to Bloomberg data.
The average of 12-month analysts' price target implies a potential upside of 28.5%.(With PTI Inputs)LIC Housing Finance Appoints Lokesh Mundhra As Chief Financial Officer.
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