Life Insurance Corporation has sold 6.73 crore shares of Hindustan Unilever Ltd, making Rs 4,039 crore through the deal. Hindustan Uniliver informed the stock exchanges that LIC sold the shares at Rs 600 a share.
Hindustan Unilever’s shares were down about 4 per cent on Thursday, over the previous day’s close.
Recently, Unilever Plc increased its stake in its Indian subsidiary to 67.28 per cent through a buyback of shares.