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State-owned LIC has cut its stake in Hero MotoCorp to around 3% by selling more than 2% stake.
The country's largest insurer offloaded 40,74,307 shares, constituting 2.04%, 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% from 5.03% 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% from its previous close.
