Life Insurance Corp. said that it has raised its stake holding in the state-run Bank of Baroda from 2% to 7.05%.
The insurance provider has mopped up additional 10.45 crore shares over a time frame of one-and-a-half years through an open market transaction, PTI reported, citing regulatory filing.
Following the acquisition, which took place between Nov. 20, 2023, and April 16, 2025, LIC's stake in the Mumbai-based bank has increased to 7.05%,
Shares of LIC closed 1.78% higher at Rs 817.50 apiece on the National Stock Exchange, compared to a 1.15% rise in the benchmark Nifty. The stock has fallen 16.12% in the last 12 months and 8.35% on a year-to-date basis.
Out of 21 analysts tracking the company, 16 have a 'buy' rating on the stock, four recommend 'hold' and one suggests 'sell', according to Bloomberg data. The average of 12-month analysts' price target implies a potential upside of 28.5%.
(With PTI Inputs)
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