MoneyWorks4Me

LIC’s hikes stake in Axis Bank to 10.44%

22 Jan 2014 Evaluate

Life Insurance Corporation of India (LIC), the country’s largest life insurer's stake in Axis Bank has crossed 10% after it picked up the private lender’s shares through open market transactions. LIC, one of the promoters in Axis Bank, bought 52.07 lakh shares or over 1% of paid-up capital worth Rs 625.64 crore between September 2013 and January 21, 2014.

With the acquisition, LIC’s stake in the private lender rose to 10.44% from 9.33%.The total number of shares of Axis Bank with LIC have risen to 4.9 crore.

Peers
Company Name CMP
HDFC Bank 728.10
ICICI Bank 1396.80
Axis Bank 1286.45
Kotak Mahindra Bank 446.00
Indusind Bank 874.00
View more..