Tata Consumer Products Ltd.

Life Insurance Corporation (LIC) has reduced its stake in Tata Global Beverages by 2.14%. The insurer has sold 1.35 crore shares in an open market transaction. The public sector insurer, which earlier had 9.85% stake, brought down its shareholding in the company to 7.70% by selling shares between July 20, 2016, and July 4, 2017.

Tata Global Beverages is a global beverage business with a brand presence in over 40 countries. The company has significant interests in tea, coffee and water and is the world’s second largest tea company.