The country’s largest insurer, Life Insurance Corporation of India (LIC) has sold 2.06% stake in drug and chemical firm Merck through an open market transaction. With the sale, the total shareholding of the insurer has come down to 5.6%.
The insurer has sold 3,43,147 shares totaling 2.06% in the company. Earlier, LIC had 12,74,823 shares in the company constituting 7.68% stake.
Merck is engaged in manufacturing and marketing of pharmaceuticals, bulk drugs, fine chemicals and pigments. The company operates through two segments - Pharmaceuticals and Chemicals.
