Govt sells 4.66 per cent stake in BHEL to LIC

Life Insurance Corporation of India (LIC) has bought a 4.66 per cent stake in Bharat Heavy Electricals (BHEL) from the government of India in a block deal totalling Rs 18.89 billion.

According to data with the Bombay Stock Exchange, LIC on Monday bought 114.1 million shares of BHEL at Rs 165.55 each.

With the block deal, the government's stake in the capital goods maker has come down to 63.05 per cent.

Shares of BHEL were trading 0.77 per cent higher on the Bombay Stock Exchange at Rs 163.75 in noon trade.

(Reuters)