How is investing in Gold ETF better than jewellery?
What is the right way to invest in gold? Why should you not invest in gold jewellery? What is the benefit of investing in Gold ETF? What should be the share of gold in the portfolio?
New Delhi: Life Insurance Corporation of India’s shareholding has risen by over 5% in the state-run Union Bank of India with the acquisition of nearly 2% additional stake in the bank. LIC held 3.09% stake in UBI earlier, representing 19,79,23,251 equity shares of the bank.
It has now increased to 5.06% (34,57,64,764 shares), as per a regulatory filing of LIC sent to exchanges through Union Bank of India on Friday.
The life insurance behemoth picked up 14,78,41,513 shares of the bank in a preferential allotment of shares on May 20, 2021, as per the filing.
Union Bank of India had on Thursday closed its Qualified Institutions Placement (QIP), in which it raised a total of Rs 1,447.17 crore. The stock of Union Bank of India closed at Rs 37.45, up 1.63% from their previous close.