Stock price of GAIL India rose 4.6% on Thursday following updates on Life Insurance Corporation of India purchasing an extra 2.014% stake in the state-run vitality major.

Stock prices of GAIL India exchanged at ₹106.4, up 3.6% from past close, while the benchmark Sensex was up 0.7% at 36584.78.

LIC purchased 203.71 million offers or 2.014% stake in GAIL India by means of open market buys between 13 February, 2019 and 7 July, 2020. Following the exchange, LIC’s stake in GAIL India has expanded to 7.019% from 5.004% prior.

GAIL India’s March quarter benefit bounced 216% year-on-year to ₹4,813.88 crore while net deals fell 6% year-on-year to ₹17,922.79 crore during the period.

Since the start of 2020, GAIL India shares have declined 12%. From its March lows, the Stock price has risen 63%.

Starting at 31 March, the legislature held 52.49% stake in the organization.

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