LIC likely to pick 5 per cent stake in BHEL

The country's largest insurer, Life Insurance Corporation (LIC), may pick up 5 per cent stake in state-run power equipment maker BHELBSE 0.72 % in a block deal. The proposal initiated by the heavy industries & public enterprises ministry is now being processed by the disinvestment and financial services department of the finance ministry. The ministry has been opposed to stock market sale of BHEL's share by the government under its disinvestment programme that has been drastically pruned to Rs19,027 crore from Rs54,000 crore budgeted initially. ref: http://economictimes.indiatimes.com/markets/stocks/stocks-in-news/lic-likely-to-pick-5-per-cent-stake-in-bhel/articleshow/31009307.cms