LIC raised stake in BOB: Life Insurance Corporation of India (LIC) has increased its stake in Bank of Baroda. This has led to a rise in the bank’s shares.
LIC increases stake in public sector bank
Life Insurance Corporation of India (LI) has increased its stake in public sector Bank of Baroda by 2 percent. Due to this, LIC’s stake in the bank has become 7.05 percent. According to the information given by LIC to the stock market, it has purchased 10.45 crore additional shares from the open market in the last one and a half years.
LIC has increased its stake in Bank of Baroda from 5.03 percent to 7.05 percent between November 20, 2023 and April 16, 2025. On the other hand, the government’s stake in the bank is 63.97 percent as of the end of March 2025.
Bank of Baroda shares rose 3 percent on Monday (April 21). The stock is trading at Rs 249.65 on BSE. The bank’s market capitalization is Rs 1.29 lakh crore. The bank’s shares have risen 15 percent in the last one month and 7 percent in the last week.
After the Reserve Bank of India cut the repo rate by 0.25 percent, Bank of Baroda has also cut interest rates by 0.25 percent. It has reduced the interest rate on loans given to companies in the retail and MSME sectors.
Bank of Baroda has not yet released its figures for the fourth quarter of the financial year 2024-25. The bank had a net profit of Rs 4837.34 crore during the October-December period.
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