Life Insurance Corporation of India (LIC) has diluted its stake in Siemens from 5.170 per cent to 3.130 per cent. The insurance major offloaded about 72.66 lakh shares (or 2.04 per cent) of Siemens between July 18 and November 24, at an average cost of ₹2,819.26, it said in a notice to the stock exchanges.

Shares of Siemens closed at ₹2,778.70 on the BSE on Friday, while LIC shares climbed 0.54 per cent at ₹627.85.

In a separate notice to the exchanges, LIC said that it offloaded 2.085 per cent stake in DCW Ltd at an average cost of ₹78.05 between January 24, 2018, and November 24, 2022.

Following the stake sale, LIC holding in DCW reduced to 4.210 per cent.

Shares of DCW closed one per cent lower at ₹52.85.