Life Insurance Corporation of India off-loaded 2.13 per cent stake in pharma major Dr Reddy’s Laboratories Ltd.
The stake sale was conducted in the open market between January 10 and May 10, the Hyderabad-based company informed the BSE.
With this, LIC’s stake had become 4.1 per cent in the company. The promoters had 25.56 per cent stake while the foreign institutional investors and domestic institutional investors hold 29.66 per cent and 11.03 pc respectively. The others hold 33.75 per cent.
Dr Reddy’s scrip lost 0.48 per cent on the BSE on Monday to end at Rs 2,080.95.
The company will be announcing its fourth quarter numbers on Tuesday.
naga.gunturi@thehindu.co.in