MoneyWorks4Me

LIC purchases 4.68% stake in Bank of Maharashtra

17 May 2012 Evaluate

Life Insurance Corporation of India (LIC) has purchased about 2.76 crore shares of Bank of Maharashtra. It has acquired 4.68% stake in the bank through market operations. After this purchase LIC’s stake in the bank has increased to 9.97%.

Recently, Bank of Maharashtra (BoM) has inked pact with Mahindra & Mahindra by signing a preferred financier agreement. As per the agreement M&M customers will get benefit from the vehicle finance services from any of the 1,589 branches of the bank.

Peers
Company Name CMP
State Bank Of India 957.00
PNB 120.35
Bank Of Baroda 231.00
Canara Bank 116.40
Union Bank Of India 178.50
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