New Delhi: Aditya Birla-led Hindalco on Thursday said insurance giant LIC has raised its stake in the aluminium maker to over 13 percent.
In a BSE filing, Hindalco said LIC acquired 2.009 percent stake in the firm through open market transaction between April 16 and June 17, 2015.
After the transaction, the state-run firm's stake in Hindalco increased from 11.328 percent to 13.337 percent.
The aluminium maker had reported a 36 percent fall in standalone net profit to Rs 160 crore for the quarter ended March 31 against Rs 248 crore in the year-ago period, mainly on account of Rs 146 crore liability towards Renewable Power Obligations (RPO).
The Aditya Birla Group flagship firm's standalone net sales rose by 10 percent to Rs 9,219 crore in January-March quarter, from Rs 8,360 crore in the same quarter of 2013-14.
Meanwhile, Hindalco shares on Thursday rose 1.31 percent to settle at Rs 120.10 apiece on BSE.
