Life Insurance Corporation of India (LIC) has trimmed its stake in Ashok Leyland by 2.04% after selling 5.97 crore shares in the open market.
The country’s largest insurer which held 5.16% stake in the company earlier, brought down the shareholding in the company to 3.11%. The insurer sold the stake between October 16, 2015, and March 1, 2018.
Ashok Leyland, the Hinduja Group flagship company in India, is engaged in the manufacturing of commercial vehicles and related components. The company’s products include buses, trucks, engines, defense and special vehicles.