Bharat Forge climbs 3% as LIC hikes stake in company
LIC bought 47.12 lakh shares of the company in the open market, adding to its existing 5 per cent stake in the company.
By ET Online |
NEW DELHI: Shares of Bharat Forge, one of India’s leading automotive components manufacturer, ended with gains of 4.63 per cent on Thursday after Life Insurance Corporation ( LIC) hiked stake in the company in 2.02 per cent.
Reacting to the development, the scrip gained 2.93 per cent to hit a high of Rs 812.75 on the BSE.
LIC bought 47.12 lakh shares of the company in the open market, adding to its existing 5 per cent stake in the company. The insurance company’s stake now stands at 7.02 per cent in the company.
Reacting to the development, the scrip gained 2.93 per cent to hit a high of Rs 812.75 on the BSE.
LIC bought 47.12 lakh shares of the company in the open market, adding to its existing 5 per cent stake in the company. The insurance company’s stake now stands at 7.02 per cent in the company.
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