LIC trims stake in Hero MotoCorp to 2.99%

Tags: Companies
State-owned LIC has cut its stake in Hero MotoCorp to around 3 per cent by selling more than 2 per cent stake.

The country's largest insurer offloaded 40,74,307 shares, constituting 2.04 per cent, in MotoCorp through an open market transaction, Hero MotoCorp Ltd said in a filing to the BSE.

LIC's stake in the country's largest two-wheeler maker has come down to 2.99 per cent from 5.03 per cent earlier after the offloading of shares, it added.

LIC offloaded the shares of the two-wheeler major, between January 31, 2013 and March 12, 2014.

Hero MotoCorp shares were trading at Rs 2115 apiece on the BSE in late afternoon trade, up 0.69 per cent from its previous close.

EDITORIAL OF THE DAY

  • Stricter deterrent must to force defiant promoters to buy back shares

    The Securities and Exchange Board of India’s (Sebi’s) decision to delist companies that have been suspended from trading on stock exchanges for mo

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Amita Sharma

Political rhetoric makes for counter poetry

Poetic flourishes flavour politics. Ghalib and Hafez flowed profusely to ...

Zehra Naqvi

Watch your words, for they can kill

You must’ve heard the ph­rase ‘if looks could kill’. Ever ...

Dharmendra Khandal

Biodiversity day has come and gone. Yet again

Every year on May 22, world celebrates international biodiversity day. ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture