Life Insurance Corporation of India sold shares worth about Rs 5,400 crore in the the country's largest carmaker Maruti Suzuki India Ltd.
The state-owned life insurer sold nearly 60.9 lakh shares in the open market to dilute its stake from 6.2% to 4.2% in the maker of Swift hatchback, according to its exchange filing. The stock closed at Rs 8,836 on the BSE on Friday.
Shares of Maruti Suzuki closed 1.21% lower on Friday compared with a 0.15% rise in the benchmark Sensex.
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