New Delhi: Insurance behemoth LIC has reduced stake in the leading textile manufacturer Arvind Ltd by around 2% over nine years.
The corporation has sold 51.85 lakh shares of the Ahmadabad-based Arvind Ltd between 22 November 2007 and 7 October 2016, the textile manufacturer said in a BSE filing.
Before the sale, LIC had 1.65 crore shares of Arvind Ltd, constituting 6.409% 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% of the total share holding. Shares of Arvind Ltd on Monday settled at Rs351.40 on BSE, down 0.01% from previous close.