State-run insurance giant LIC and Government of Singapore have hiked their stakes in Reliance Industries with the purchase of shares worth over Rs 1,550 crore during the last quarter.
Life Insurance Corp of India (LIC) increased its stake in Mukesh Ambani-led Reliance Industries ltd (RIL) from 7.09% to 7.77% during the quarter ended June 30, 2012.
During the same period, the Government of Singapore also raised its RIL holding marginally from 1.06 per cent to 1.22%.
At the current market price, the additional shares purchased by LIC during the quarter are worth about Rs 1,450 crore, while that of Singapore government is worth about Rs 100 crore.
LIC's holding in RIL now stands at about 25.2 crore -- rising by close to two crore in April-June quarter, while Singapore government's RIL holding has risen by more than 15 lakh shares to 3.94 crore during the period.
On the other hand, the holding of another major non-promoter shareholder, Franklin Templeton Investment Funds, in