Insurance behemoth LIC has reduced stake in the leading textile manufacturer Arvind Ltd by around 2 per cent over nine years.
The corporation has sold 51.85 lakh shares of the Ahmadabad-based Arvind Ltd between November 22, 2007 and October 7, 2016, the textile manufacturer said in a BSE filing.
Before the sale, LIC had 1.65 crore shares of Arvind Ltd, constituting 6.409 per cent stake in the textiles maker. Post the sale, it has come down to 1.14 crore share of the textiles maker, which is 4.403 per cent of the total share holding.
Shares of Arvind Ltd today settled at Rs 351.40 on BSE, down 0.01 per cent from previous close.(News Courtesy: business-standard)