Life Insurance Corporation of India (LIC) has sold 2,211,088 shares in the drug firm Wockhardt, aggregating 2.019% stake through market sale for a total value of Rs 129.09 crore
Earlier, LIC had 5,506,579 shares in the company, aggregating 5.03% stake in the company. Post sale, LIC’s holding in Wockhardt has come reduced to 3.011%.
Wockhardt had reported net loss of Rs 68.64 crore for the quarter ended March 31, 2012, against net profit of Rs 32.25 crore for the corresponding period last fiscal. However, total income increased by 68.90% at Rs 722.93 crore during the quarter under review from Rs 428.03 crore in the year-ago period.
