State-owned Life Insurance Corporation (LIC) has reduced its stake in fabrics and garments firm Raymond Ltd by 2.01 per cent, by selling 12.34 lakh shares in the open market.
LIC, which had 7.54 per cent stake earlier, brought down its shareholding in the company to 5.53 per cent by selling shares between March 15, 2012, and October 10, 2016, Raymond said in a filing to the BSE.
Shares of Raymond were trading at Rs 579.95 apiece, down 0.14 per cent, on the BSE.
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