Life Insurance Corporation has acquired additional over two per cent stake in power equipment maker BHEL from the market for Rs 2,205 crore to become the second largest shareholder in the PSU after the government.
LIC, which had 7.022 per cent stake in BHEL prior to this round of acquisition, bought shares during June last year to May 3 this year to take its stake to 9.052 per cent, BHEL said in a filing to the stock exchanges.
According to the shareholding pattern, the government has 67.72 per cent stake in BHEL, followed by over 9 per cent by LIC and 1.4 per cent by ICICI Prudential Life Insurance. The remaining stake in held by FIIs and the public.
BHEL shares changed hands at Rs 2,057.70 at the bourses during the trading today.
ref:
http://economictimes.indiatimes.com/markets/stocks/stocks-in-news/life-insurance-corporation-increases-stake-in-bhel-to-9/articleshow/8179919.cms
Friday, May 6, 2011
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