Life Insurance Corporation (LIC) of India has acquired 2.021 percent stake in FMCG firm Colgate Palmolive India through open market purchase, taking the total holding in the company to 7.037 percent.
The Insurance behemoth earlier had 5.016 percent stake in Colgate Palmolive India, the FMCG company said in a regulatory filing.
LIC has acquired additional 54,97,334 shares in the company and now has 1,91,40,291 shares. It earlier had 1,36,42,957 shares in Colgate Palmolive India.
Stock of the FMCG firm closed 1.94 percent down at Rs 1,042.75 apiece on BSE.(News Courtesy :moneycontrol)