LIC raises stake in Reliance Industries to 9.08 per cent

Insurance behemoth LIC has raised its stake in Mukesh Ambani-led Reliance Industries by 2.09 per cent after buying 6.78 crore shares in the open market.

At current market prices, state-run LIC's stake in RIL is worth upwards of Rs 25,150 crore. LIC, which had 6.98 per cent stake earlier, increased its shareholding in the company to 9.08 per cent by buying shares between January 23, 2010, and February 28, 2015, RIL said in a filing to the BSE.

Shares of Reliance Industries closed at Rs 863.70 apiece, down 0.29 per cent at the end of day's trade on BSE.