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India’s largest domestic institutional investor LIC has pared its stakes in L&T and IDFC.
In a statement to the exchanges, LIC said that it sold over 1.4 crore shares (2.272 per cent) in L&T in the open market between December 30, 2011, and July 15, 2013.
The life insurer still holds over 15.8 crore shares in L&T (17.107 per cent).
LIC also sold 2.828 per cent stake (or over 4.28 crore shares) in IDFC between July 30, 2011, and July 15, 2013. It still holds over 10.38 crore shares or 6.856 per cent in the company.
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