Life Insurance Corporation of India (LIC) has offloaded more than 2% stake in Bharat Forge. Following stake sale, the insurers’ current holding in the company stood at 3.15%. LIC has sold 47.79 lakh shares aggregating 2.053% stake in the company through the open market between January 16 and March 28 this year.
Before the sale, LIC’s holding in Bharat Forge was 5.205%. After the transaction, LIC now holds 73.38 lakh shares of Bharat Forge, which amounts to 3.152% stake in the company.
Bharat Forge engages in manufacturing of close die and open die forging, crankshafts, front axle beams, steering knuckle, connecting rods, rocker arm and many more components.
