LIC’s stake in Hindalco increased to 10.39%

Shares of Hindalco may remain in focus as Life Insurance Corporation of India (LIC) has increased its stake in the company. In a notice to bourses, Hindalco said LIC has acquired 4.65 crore shares of the company through open market transactions between May 5, 2017 and August 14, 2019. Following the acquisition, LIC’s stake in Hindalco increased to 10.39% from 8.32%. At the end of June, LIC had a stake of 9.26% in Hindalco, exchanges data show.