LIC ups holding in NMDC to 10%, stake valued at Rs 5,440 cr

Insurance behemoth LIC has bought 7.98 crore shares, or 2.13%, of NMDC to take its total stake in the state-run iron ore miner to 10.12%.

Based on the current share price of NMDC at Rs 135.60 apiece, LIC’s holding in the company is valued at over Rs 5,440 crore.

The shares have been purchased through open market acquisitions between September 20, 2014, and April 9, 2015, NMDC said in a regulatory filing to the BSE.

Prior to this acquisition, LIC held 8.11% stake in the iron-ore mining company.

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Amit Antil

After doing Power Management (MBA) from National Power Training Institute (NPTI), Amit Antil is now presently working with Today Green Energy Pvt. Ltd. and looking after business development activities for Solar. Earlier he was associated with leading power trading company Global Energy for 3 years. He has a sound knowledge about bidding, power trading, open access, REC trading, Govt. Liaisoning, Contract Negotiation, Power Purchase Agreement.

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