LIC trims stake in Colgate-Palmolive by 2%

State-owned Life Insurance Corporation (LIC) has reduced its stake in FMCG firm Colgate-Palmolive (India) Ltd by over 2 per cent by selling 55.18 lakh shares in the open market.

As per a regulatory filing, LIC, which had 7.03 per cent stake in Colgate-Palmolive earlier, brought down its shareholding in the company to 5 per cent by selling shares between November 1, 2017, and January 14, 2019.

Shares of Colgate-Palmolive ended at Rs 1,323.80 apiece, up 1.43 per cent on the BSE.