LIC trims stake in Raymond to 5.53%

NEW DELHI: State-owned Life Insurance Corporation (LIC) has reduced its stake in fabrics and garments firm Raymond Ltd by 2.01%, by selling 1.234 million shares

NEW DELHI: State-owned Life Insurance Corporation (LIC) has reduced its stake in fabrics and garments firm Raymond Ltd by 2.01%, by selling 1.234 million shares in the open market. LIC, which had 7.54% stake earlier, brought down its shareholding in the company to 5.53% by selling shares between March 15, 2012, and October 10, 2016, Raymond said in a filing to the BSE. Raymond’s shares closed 0.5% up on the BSE on Friday.

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