LIC hikes stake in Tata Tea to 16.03%

Agencies
Posted: Monday, Nov 02, 2009 at 1703 hrs IST
Updated: Monday, Nov 02, 2009 at 1703 hrs IST

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Mumbai: Life Insurance Corporation of India has hiked stake in Tata group-firm Tata Tea to 16.03 per cent, after buying shares worth Rs 113.10 crore, through open market transactions.

LIC has bought 12,95,212 shares, representing 2.09 per cent stake in Tata Tea for Rs 113.10 crore, Tata Tea said in a disclosure to the Bombay Stock Exchange.

Prior to the purchase, LIC held 13.93 per cent stake in Tata Tea. The stake has now gone up to 16.03 per cent or 99,14,474 shares of the company.

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