Mumbai: Life Insurance Corporation of India has hiked its stake to 7.105% in HDFC Bank after purchasing shares in the open market.
In a filing to the Bombay Stock Exchange, HDFC said LIC has purchased over 89.17 lakh shares representing 2.09% stake in the company.
Prior to the aforesaid acquisition, LIC held 5.01% stake, while now it holds over 3.02 crore shares representing 7.10% stake in the bank.
Earlier this month, Life Insurance Corporation of India has hiked its stake in Gail India to 10.10%.
Shares of HDFC Bank were trading at Rs806.6 5, up 0.74% on the BSE.