 "Credit Analysis and Research gains on LIC stake buy")
Shares of Credit Analysis and Research (CARE) were trading higher by nearly 3% at Rs 1,529 on the BSE after the insurance giant Life Insurance Corporation of India (LIC) has acquired about 10% stake in the company for total consideration of Rs 418 crore through open market.
On Wednesday, March 18, 2015, LIC purchased 2.88 million shares representing 9.93% stake in the rating agency at price of Rs 1,453 per share, the BSE bulk deal data shows.
Meanwhile, IDBI Bank sold 2.90 million shares of CARE at Rs 1,453.09 per share, data shows.
According to shareholding pattern data, as on December 31, 2014, IDBI Bank held 16.62% stake, while LIC had nil holding in CARE.
Shares of CARE opened at Rs 1,550 and touched a high of Rs 1,550 on the BSE so far. Till 1041 hours, a combined 24,642 shares changed hands on the counter on the BSE and NSE.
On Wednesday, March 18, 2015, LIC purchased 2.88 million shares representing 9.93% stake in the rating agency at price of Rs 1,453 per share, the BSE bulk deal data shows.
Meanwhile, IDBI Bank sold 2.90 million shares of CARE at Rs 1,453.09 per share, data shows.
According to shareholding pattern data, as on December 31, 2014, IDBI Bank held 16.62% stake, while LIC had nil holding in CARE.
Shares of CARE opened at Rs 1,550 and touched a high of Rs 1,550 on the BSE so far. Till 1041 hours, a combined 24,642 shares changed hands on the counter on the BSE and NSE.