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MoneyWorks4Me

LIC sells over 2% stake in Bharat Forge

01 Apr 2014 Evaluate

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.

Peers
Company Name CMP
Bharat Forge 1726.00
Ramkrishna Forgings 646.15
MM Forgings 480.10
Happy Forgings 1745.80
Balu Forge Inds. 442.30
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