LIC Ups Stake in Bank of India to 8.38%; Shares Climb 2% on May 14
Summary
Bank of India (BoI) shares saw a 2% uptick, reaching a days high of 114.90 on the BSE on May 14, following an announcement that the Life Insurance Corporation of India (LIC) has increased its stake in the lender to 8.38%.According to an exchange filing, LIC raised its stake by approximately 2.026% over nearly four years, from September 2, 2021, to May 9, 2025. Among the notable public investors, SBI PSU Fund holds a 1.52% stake.For the fourth quarter of FY25, Bank of India reported an 82.5% year-on-year rise in profit after tax (PAT), which stood at 2,626 crore. The banks net interest income (NII) also registered modest growth, rising 2.1% YoY to 6,063 crore from 5,936 crore in the same quarter last year.The bank also announced a final dividend of 4.05 per share, setting June 20 as the record date for shareholder eligibility.Despite a 9.60% decline over the past year, BoI shares have performed positively in the shorter term. On Tuesday (May 13), BoI shares closed 2.3% higher at 112.55 on the BSE.The rise in LICs stake and BoIs healthy quarterly results seem to have instilled confidence among investors, driving the recent rally, as per news reports.Read More: Aurionpro Reported 32% PAT Growth in FY25, Eyes Bigger Global Play in FY26.The increase in LICs stake to 8.38% underscores institutional confidence in Bank of Indias fundamentals and long-term growth prospects. Investors may find it worthwhile to monitor BoIs strategic moves and performance going forward.Disclaimer: This blog has been written exclusively for educational purposes.