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Hero Motocorp on Tuesday said that LIC of India has cut its stake in the company by 2.026 percentage points. In a disclosure to the exchanges, the auto major said, LIC has been reducing its stake from 7.162 per cent to 5.136 per cent by selling the company’s shares between October 1, 2015 and June 21, 2017. According to exchange data, at the end of March 2017, the insurance behemoth had held 4.25 per cent stake in Hero MotoCorp.
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