Life Insurance Corporation of India (LIC) has hiked its stake in Bharat Forge by 2.02%, through purchase of 47.12 lakh shares in the open market. LIC, which earlier held 5% stake, increased its shareholding in the components maker to 7.02%. The shares were bought between December 12, 2015, and March 1, 2016.
Bharat Forge is the flagship company of the $3.0 billion Kalyani Group and a global provider of high performance, innovative, safety & critical components and solutions to various industrial sectors including Automotive, Oil & Gas, Power, Construction & Mining, Aerospace and Rail & Marine.
