LIC increased stake in Central Bank of India to 6.06%

State-owned insurer Life Insurance Corporation (LIC) has increased its stake in Central Bank of India to 6.06 per cent from 3.16 per cent earlier.

In an announcement to stock exchanges, the Central Bank of India said LIC bought 26.26 crore shares or 2.901 percent in the public sector lender through market purchases on May 22.

After the stake acquisition, LIC’s holding in the Central Bank of India has increased to 6.06 percent.

Shares of Central Bank of India fell 0.03 percent from their previous close on the BSE to Rs. closed at 31.29.