LIC Sells Shares Worth Rs 7700 Crores in 14 Sensex Firms

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State-owned life insurer Life Insurance Corporation has reduced its exposure in 14 blue-chip firms during the July-September quarter with sale of shares worth Rs 7,700 crore, said the media report.

At the same time, the insurer increased its stake in 10 Sensex firms by purchasing shares to the tune of over Rs 5,000 crore, as per the shareholding pattern of 30-bluechip companies on the BSE.

LIC Sells Shares Worth Rs 7700 Crores in 14 Sensex Firms
In five companies Wipro, GAIL, BHEL, HeroMoto Corp and Dr Reddy's Laboratories LIC's stake remained unchanged during the quarter. It has not held any stake in Hindustan Unilever in the past few quarters.
wipro, bha
LIC holds 16.97 per cent stake in Larsen & Toubro, the highest level among its holdings in Sensex firms.

The trimming of gains by the Life Insurance Corporation of India coincided with a surge of around five per cent in BSE's benchmark index Sensex during July-September quarter.

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Story first published: Monday, November 3, 2014, 9:20 [IST]
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