LIC hikes its stake in HUL over 5%

New Delhi: Life Insurance Corporation of India (LIC) on Monday said its stake in FMCG major Hindustan Unilever Limited (HUL) has crossed 5 per cent.

The Corporation has increased its shareholding in Hindustan Unilever Limited from 11,74,63,555 to 11,77,18,555 equity shares, i.e., 4.99 per cent to 5.01 per cent of the paid-up capital of the company, LIC said in a regulatory filing.

The Corporation purchased additional shares from the open market in the ordinary course of transaction, it said.

Holding in the company touched 5 per cent and the acquisition of shares was done on April 12 at an average cost of Rs 2,248.59 per unit.

Shares of HUL ended 1.72 per cent down at Rs 2,194.60 while that of the country's largest state-owned insurer, LIC, closed at Rs 961.15 apiece on BSE, down by 1.03 per cent.