New Delhi: State-owned Life Insurance Corporation (LIC) of India has reduced its share holding in fast moving consumer goods (FMCG) firm Tata Global Beverages Ltd (TGBL) to 3.62% by selling 2.05% stake in open market.

LIC sold 1.29 crore shares, representing 2.05% stake, of TGBL in open market between 23 August 2017 to 21 February 2018, the Tata group company said in a filing to BSE.

The insurance giant had 5.67% stake in TGBL earlier, it added. Shares of Tata Global Beverages Ltd (TGBL) on Friday closed at Rs270.80 per scrip on BSE, up 3.22% from its previous close.

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