LIC increases stake in footwear major Bata India by 2.03 per cent

11 December 2016, 01:20 PM
Life Insurance Corporation - File Photo
Life Insurance Corporation - File Photo

State-owned Life Insurance Corporation (LIC) has increased its stake in footwear major Bata India by 2.03 per cent, taking its total shareholding to 7.05 per cent in the company.

LIC bought 26.11 lakh shares, amounting to 2.03 per cent stake, from open market during January 20 to December 8, 2016, according to a regulatory filing. LIC had 5.02 per cent stake in Bata India earlier.

For the second quarter ended September, Bata India reported 36.35 per cent fall in net profit at Rs 34.59 crore as against a net profit of Rs 54.35 crore in the year-ago period.

However, its total income from operations increased by 1.56 per cent to Rs 583.74 crore from Rs 574.73 crore during thesame period a year ago. 

First Published: Sunday, December 11, 2016 12:54 PM
For all the latest News Download the News Nation App available on Android and iOS.