Stock Manipulation
Unquoted: Yuvraaj Hygiene

Stories of price manipulation

Yuvraaj Hygiene (Rs15)

Yuvraaj Hygiene Products is a...

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Ador Fontech: Get Welded

A small company with big margins

Ador Fontech is into welding, surfacing and spraying...

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LIC lowers stake in Cipla to 6.21%

LIC sold 1.7 crore shares representing 2.12% stake of the company between 21 August 2012 and 7 January 2013 via open market

Mumbai: State-run Life Insurance Corporation of India (LIC) has sold 2.12% stake in drug manufacturer Cipla through open market transactions over a period of nearly five months, reports PTI.

 

The insurer has reduced its stake in the company to 6.21%.

 

“LIC has sold 1.7 crore shares representing 2.12% stake of the company between 21 August 2012 and 7 January 2013 via open market,” Cipla said in a filing to the BSE.

 

However, financial details were not disclosed.

 

Following the stake sale, LIC's total shareholding in the company has come down to 6.21% from 8.34%.

 

LIC held over 5.82 crore shares or 7.25% stake in the company as on 30 September 2012.

 

Meanwhile, foreign institutional investors (FIIs) have raised their holding in Cipla to 20.79% in September 2012 from 13.09% at the end of December 2011.

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