LIC LIFTS INVESTMENT STAKES IN SEVERAL FIRMS

INDIA’S largest life insurer Life Insurance Corporation has lifted its stake in the country’s gas company GAIL India. The insurance giant now holds 9.98% of GAIL. It has also been lifting its holdings in other company’s including ICICI Bank. LIC now holds 9.38% of the bank having bought Rs1.45bn worth of shares through open market transactions. Its previous stake had been 7.34%. LIC has also lifted its holding in Indian Overseas Bank by 2% to 7.09%.