The country's largest insurer, Life Insurance Corporation of India (LIC), has hiked its stake

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in Bank of Baroda to 7.12 per cent from 4.67 per cent through stock market purchase.

LIC bought about 95 lakh shares for around Rs 150 crore through open market deals, state-owned Bank of Baroda (BoB) said in a filing to the BSE.

Prior to the aforesaid acquisition, LIC held 4.67 per cent stake.

Shares of BoB closed at Rs 771.75, up 0.72 per cent on the BSE.