Life Insurance Corporation (LIC) of India has sold over two per cent stake in Maruti Suzuki India (MSIL) over a period of three years, thereby reducing its total holding in the carmaker to 10.77 per cent.

Maruti Suzuki in a filing to Bombay Stock Exchange on Thursday said LIC sold a total of 58,29,103 shares of the company aggregating 2.018 per cent stake between August 24, 2009 and November 11, 2012 through the open market.

Before this transaction, LIC held 12.79 per cent stake in MSIL, with a total of 3,69,64,231 shares, it said.

Shares of Maruti Suzuki closed at Rs 1,492 on the BSE on Thursday, up 0.01 per cent over the previous close.

ronendrasingh.s@thehindu.co.in

(This article was published on November 22, 2012)
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