LIC hikes stake in Bharat Forge to 7%

State-owned Life Insurance Corporation (LIC) has hiked its stake in components maker Bharat Forge Ltd by 2.02 per cent, by buying 47.12 lakh shares in the open market.
LIC, which earlier had 5 per cent stake, increased its shareholding in the company (Bharat Forge) to 7.02 per cent by buying shares between December 12, 2015, and March 1, 2016, in Bharat Forge said in a regulatory filing.
Shares of Bharat Forge closed at Rs 790.15 apiece, up 1.99 per cent on BSE.