Tata Steel Ltd.

Life Insurance Corporation of India has acquired 9.4 lakh shares in Tata Steel from the open market, thereby increasing its holding in the steel-making firm to a little over 14%. After the acquisition of additional shares on August 12, LIC currently holds 13.49 crore shares, or a 14.06% stake in the firm.  LIC had a 13.97% stake in Tata Steel before the latest transaction.

Tata Steel's promoters, including Tata Sons, held a 30.60% stake in the company, as of June-end.

Tata Steel’s net profit for the quarter ended June 30, 2011 rose by 40.52% at Rs 2219.43 crore as compared to Rs 1579.39 crore for the corresponding quarter last year.