LIC hikes stake in Central Bank of India to 6.06 pc

Life Insurance Corporation (LIC) has increased its stake in Central Bank of India to 6.06 per cent after purchasing 26.26 crore shares via market purchase on May 22.

State-owned insurer Life Insurance Corporation (LIC) has hiked its stake in Central Bank of India to 6.06 per cent, from 3.16 per cent earlier.

In a disclosure to stock exchanges, the Central Bank of India said LIC has bought 26.26 crore shares or 2.901 per cent in the public sector lender via market purchase on May 22.

Post stake acquisition, LIC's holding in Central Bank of India has increased to 6.06 per cent.

Shares of Central Bank of India closed at Rs 31.29, down 0.03 per cent over the previous close on BSE.