LIC cuts stake in Hero MotoCorp

The Life Insurance Corporation of India has trimmed its equity holding in Hero MotoCorp by 40.74 lakh shares of the two-wheeler major over a period of 13 months. The share sales were done on various dates from end-January 2013 to March 12 this year through the open market route, Hero MotoCorp said in a filing to the BSE. This has led to LIC’s holding in Hero MotoCorp coming down to 2.993 per cent from the earlier level of 5.03 per cent.