LIC buys 3.90% additional stake in NTPC

State-owned Life Insurance Corporation (LIC) has increased its stake in India's largest power producer NTPC by 3.90% after buying 32.15 crore shares in the open market.

State-owned insurer, which had 9.08% stake earlier, hiked its shareholding in the company to 12.98% by buying shares between July 25, 2014, and February 24, 2016. LIC's stake increase in NTPC includes its participation in this week's offer of sale (OFS) by the government.

NTPC is the largest power generating company in the country. It has also diversified into hydro power, coal mining, power equipment manufacturing, oil & gas exploration, power trading & distribution.