In an open market sale, Life Insurance Corporation has purchased 40,000 shares of Nestle India leading FMCG firm. This acquisition has raised the stake holding of the insurance company by 5.01%.
LIC holds 4.97% of shares pre-acquisition of the company which estimates at 47,95,435 shares in Nestle, as per the filing listed in BSE.
The filing further added that the additional stake of 0.21% was acquired on 21st August.
The Nestle India stock closed 0.02% at Rs 6,618.70 on the BSE.