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LIC sells over 2% stake in Merck via open market transaction; stock up 19%

Over 5.5 lakh shares of the company were traded on both NSE and BSE stock exchanges

Press Trust of India  |  New Delhi 

life insurance, LIC
Life Insurance Corporation of India

Corporation has sold a little over 2 per cent stake in drug and chemical firm through an open market transaction.

With the sale, the total shareholding of the insurer has come down to 5.6 per cent, said in a BSE filing.

earlier had 12,74,823 shares in the company constituting 7.68 per cent stake. It sold 3,43,147 shares totalling 2.06 per cent.

The stock surged to a 52-week high of Rs 1,687.30 and trading volume soared over 7.25 times in day trade on BSE.

Over 5.5 lakh shares of the company were traded on both NSE and BSE stock exchanges.

The stock was trading up by 19.48 per cent at Rs 1,680 on BSE. The scrip was trading higher by 18.80 per cent at Rs 1,670.00 on NSE at 1450 hrs.

First Published: Mon, January 15 2018. 15:12 IST
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