India's Aditya Birla to raise Grasim stake - paper

MUMBAI, Feb 7 (Reuters) - India's Aditya Birla Group intends to raise its stake in diversified firm Grasim Industries Ltd (GRAS.BO: Quote, Profile, Research, Stock Buzz) to 40 percent from 26 percent, the Economic Times reported on Thursday, quoting the group's chairman.

Kumar Mangalam Birla told the newspaper the move was in line with a strategy to own at least 40 percent in all group firms. He did not give a time frame.

A group spokeswoman said in July last year that Birla was looking to take the group's holding in aluminium maker Hindalco Industries Ltd (HALC.BO: Quote, Profile, Research, Stock Buzz) to 40 percent from around 25 percent.

Another group firm Aditya Birla Nuvo (ABRL.BO: Quote, Profile, Research, Stock Buzz) said in January it planned to issue 20.5 million warrants to the founders on a preferential basis. (Reporting by Devidutta Tripathy; Editing by Ranjit Gangadharan)