Life Insurance Corporation (LIC) of India has announced that it has increased its stake holding in Siemens Ltd, a part of German conglomerate Siemens.

The sources said that LIC has increased its pre-existing holding of 11.34 per cent to 13.34 per cent in Siemens Ltd, after purchasing shares worth over Rs 213.25 crore, through an open market transaction.

The sources further added that LIC has acquired 67,52,073 shares, representing 2 per cent stake in the company, for Rs 213.25 crore.

Shares of Siemens Ltd on Monday closed at Rs 466.25 on the Bombay Stock Exchange (BSE).