25-Jul-2011
Source : Moneycontrol.com
State-run insurer LIC and private fund house Franklin Templeton have hiked their stake in Mukesh Ambani-led Reliance Industries by collectively buying about 23 lakh shares, currently worth an estimated Rs 200 crore.
As per the latest shareholding pattern filed by RIL with the stock exchange today, LIC has increased its stake in the company to 7.16% in the first quarter of this fiscal. During the same period, Franklin Templeton Investment Funds hiked its stake to 1.05%.
As per the quarterly shareholding disclosure, LIC’s holding in RIL increased by 18.6 lakh shares during April-June period, while that of Franklin Templeton rose by about 4.3 lakh shares. At RIL’s current share price of Rs 867.10, the additional shares acquired by LIC is worth Rs 161 crore, while that of Franklin Templeton is Rs 37 crore.
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