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Insurance is not merely an investment to save taxes. It’s a lot more. Whether it’s about the Financial security for your family or having that protection cover when life springs up unpleasant surprises or even taking care of the educational needs of your loved ones – There’s nothing that can beat Insurance. Unlike other avenues, Insurance gives you the much needed all round protection throughout life.

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LIC hikes stake in Bharti Airtel to 5%

07-Jul-2010

Life Insurance Corporation of India (LIC) has hiked its stake in private telecom services provider Bharti Airtel to 5 per cent after acquiring shares worth Rs 13.17 crore.

LIC has purchased 5 lakh shares, representing a 0.013 per cent stake in Bharti Airtel, for Rs 13.17 crore through an open market transaction, the telecom services provider said in a regulatory filing to the Bombay Stock Exchange (BSE). The state-owned life insurer acquired the shares on June 30.Prior to the acquisition, LIC held a 4.998 per cent stake in the company, while now it holds 5.011 per cent in Bharti Airtel. As per the March quarter shareholding pattern available on the BSE, LIC held a 4.76 per cent stake in Bharti Airtel.

Shares of Bharti Airtel were trading at Rs 270 on the BSE today, up 1.12 per cent from the previous close.

Source : www.insuremagic.com

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