The country’s largest insurer Life Insurance of India (LIC) has raised its stake in diesel and natural gas engines maker Cummins India to 5.42 per cent through open market purchase for Rs 19.06 crore.
In a disclosure to the Bombay Stock Exchange, Cummins India today said LIC has acquired 11 lakh shares, representing 0.55 per cent stake, at a price of Rs 2 each via open market purchase. Post acquisition, LIC now holds 5.42 per cent stake in Cummins India.
