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