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    HomeNewsBusinessMarketsLIC raises stake in Coal India to 9.4%

    LIC raises stake in Coal India to 9.4%

    Insurance behemoth Life Insurance Corporation (LIC) of India has hiked stake in state-owned Coal India to 9.4 percent, the coal major said.

    PTI
    November 01, 2017 / 21:53 IST
    An exterior view of Life Insurance Corporation of India's (LIC) headquarters is seen in Mumbai September 18, 2014. LIC Chairman S. K. Roy said he was "very bullish" about the banking, pharmaceutical, metals and IT outsourcing sectors because of expectations for a cyclical recovery and a stabilising rupee currency. Roy added LIC was headed for a "very good year", both in terms of its market investments and its core insurance business. The chairman said he expected growth of 12 percent in insurance premiums this fiscal year, in line with 13.4 percent last year. REUTERS/Danish Siddiqui (INDIA - Tags: BUSINESS) - GM1EA9I1C5401

    An exterior view of Life Insurance Corporation of India's (LIC) headquarters is seen in Mumbai September 18, 2014. LIC Chairman S. K. Roy said he was "very bullish" about the banking, pharmaceutical, metals and IT outsourcing sectors because of expectations for a cyclical recovery and a stabilising rupee currency. Roy added LIC was headed for a "very good year", both in terms of its market investments and its core insurance business. The chairman said he expected growth of 12 percent in insurance premiums this fiscal year, in line with 13.4 percent last year. REUTERS/Danish Siddiqui (INDIA - Tags: BUSINESS) - GM1EA9I1C5401

     
     
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    Insurance behemoth Life Insurance Corporation (LIC) of India has hiked stake in state-owned Coal India to 9.4 percent, the coal major said.

    Coal India (CIL) said in a filing to BSE that LIC bought 2 percent share in the PSU through Open Market Purchase from "January 1, 2015 -October 31, 2017."

    The PSU which accounts for over 80 percent of the domestic coal production is eyeing 600 million tonnes of output in the ongoing fiscal.

    PTI
    first published: Nov 1, 2017 09:51 pm

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