LIC hikes its stake in Dena Bank

Written by Agencies | Mumbai | Updated: Jun 27 2009, 00:53am hrs
The country's largest insurer, Life Insurance Corporation of India, has hiked its stake to 5.15 per cent in Dena Bank after purchasing fresh shares worth Rs 5.39 crore, through open market transactions.

LIC has purchased 10 lakh shares, representing a 0.348 per cent stake in the bank, worth Rs 5.39 crore, Dena Bank said in a disclosure on the Bombay Stock Exchange.

Prior to the transaction LIC held a 4.8 per cent stake, while now it holds a 5.15 per cent stake or 1.47 crore shares of Dena Bank.

Shares of Dena Bank on Friday settled at Rs 55.55, up 2.59 per cent on the BSE.