Life Insurance Corporation of India (LIC) has cut its stake in Hero Motocorp by 2.026 percentage points. LIC has been reducing its stake from 7.162 per cent to 5.136 per cent by selling the company’s shares between October 1, 2015 and June 21, 2017. At the end of March 2017, the insurance behemoth had held 4.25 per cent stake in Hero MotoCorp.
Hero MotoCorp is an India-based holding company and a two-wheeler manufacturer. The Company is engaged in the manufacturing and selling of motorized two-wheelers, spare parts and related services.
