Stocks

LIC trims stake in Asian Paints by two per cent

PTI New Delhi | Updated on June 25, 2019 Published on June 25, 2019

Shares of Asian Paints Ltd settled 0.96 per cent lower at Rs 1,363.20 apiece on the BSE

LIC sold 1,92,49,974 shares through open market, the filing said without disclosing the sale value

State-owned LIC has sold over 1.92 crore shares, representing about 2 per cent stake of Asian Paints, through open market transaction.

With the sale of these shares, stake of LIC (Life Insurance Corporation of India) in Asian Paints has now come down to 3 per cent from 5 per cent earlier, as per a regulatory filing by the insurer.

LIC sold 1,92,49,974 shares through open market, the filing said without disclosing the sale value.

The total sale value could not be ascertained as the the insurer sold the shares over a period of time between January 9-June 24, 2019.

Shares of Asian Paints Ltd settled 0.96 per cent lower at Rs 1,363.20 apiece on the Bombay Stock Exchange (BSE).

Published on June 25, 2019
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