LIC increases stake in Hindalco to 9 per cent
Mumbai: Life Insurance Corp (LIC) has increases its stake in Hindalco, the Aditya Birla flagship to over 9 per cent through open market transactions, after the aluminium maker's share price plunged on Novelis buyout.

LIC bought more than two crore shares in Hindalco between March 31 and April 28 this year, according to data available with BSE.

Between January 5, 2006 and April 28, 2007, LIC purchased 2.05 per cent or 4.01 crore shares in Hindalco, the company said in a regulatory filing.

Interestingly while LIC 15 months to increase its holding to 8.6 crore shares till March 31, from 6.48 crore shares, or 7.01 per cent stake, as on January 5, 2006 it acquired 2.13 crore shares for up to Rs324 crore in just 20 days after March 31.
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Fortis closes below offer price on listing
Mumbai: Ranbaxy promoter group company, Fortis Healthcare, debuted on Wednesday on the BSE at a discount of 2.86 per cent at Rs105 against the issue price of Rs108. The stock reached a high of Rs109.10 and a low of Rs97.90 before closing at Rs100. On the NSE, the company opened at a 1.85 per cent premium at Rs110. The stock closed at Rs100.80 after reaching a high of Rs110 and a low of Rs98.05. The total traded quantity of shares were 1.38 crore and 2.09 crore on the BSE and NSE respectively.
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