New Delhi, June 6 -- Life Insurance Corporation of India (LIC), the country's largest institutional investor, has increased its stake in Maruti Suzuki beyond the key 5% ownership threshold after purchasing additional shares of the automaker through the open market.

According to a regulatory filing, LIC acquired 51,750 shares of Maruti Suzuki on June 3 through a market transaction. Based on the stock's previous closing price of Rs.13,064 on the NSE, the purchase is valued at approximately Rs.67.61 crore. Before the transaction, LIC held 1.57 crore shares, representing a 4.989% stake in India's largest passenger vehicle manufacturer. Following the latest acquisition, its holding has risen to 5.006%.

The increased investment comes at a tim...