Government sells 4.66% stake in BHEL to LIC

Life Insurance Corporation of India (LIC) on Monday bought a 4.66 per cent stake in Bharat Heavy Electricals Ltd from the government of India in a block deal totalling Rs 18.89 billion, BSE Ltd data shows. LIC bought 114.1 million shares of BHEL at Rs 165.55 each. With the block deal, the government's stake in the capital goods maker has come down to 63.05 per cent. ref: http://economictimes.indiatimes.com/markets/stocks/market-news/government-sells-4-66-stake-in-bhel-to-lic/articleshow/31383273.cms