Public Relations

LIC hikes stake in RIL to 6.94%

The country"s most valued firm Reliance Industries (RIL) today said the public sector insurer Life Insurance Corporation of India (LIC) has hiked its stake in the company to 6.94 per cent over the past two years through open market transactions. - Book sellers find Mysore a good mkt - T N Ninan: Public-private disjuncture">T N Ninan: Public-private disjuncture - Hind Copper to invest Rs 3.5k cr to up prod to 11 MTPA - RIL revises Lyondell offer to $13.5 bn - BofA likely to pay bonuses close to 2007 level - Future Group pulls the plug on "Bijli Ghar" The state-owned insurer LIC has hiked stake in the Mukesh Ambani-led company to 6.94 per cent from 5 per cent for Rs 6,182 crore, RIL said in a disclosure to the Bombay Stock Exchange (BSE). The transactions were done between May 27, 2008 and January 4, 2010. LIC now holds 22.69 crore shares of RIL representing 7.33 per cent voting rights in the company. RIL shares today closed at Rs 1,101.95, down by 0.29 per cent from its previous close on the BSE.

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