Maruti Suzuki India Ltd.

Life Insurance Corporation of India (LIC) has sold 2.53% stake in the country’s largest car maker Maruti Suzuki India over a period of almost six months. LIC sold 62,23,598 equity shares, representing 2.53%, of MSI between November 21, 2012 and May 17 this year.

Post-sale, LIC’s stake in the company has come down to 8.25% currently from 10.78% earlier.

The company’s total production for the month of April 2013 declined 7.58% to 105,416 units from 114,065 units in same month last year. The production of Mini cars like Alto, A-Star and Wagon-R has decreased by 14.13% to 43,146 units from 50,246 in April 2012.