New Delhi: Life Insurance Corp. of India (LIC) has acquired 40,000 shares of FMCG major Nestle India Ltd through an open market purchase, a move that has pushed its stake in the Indian arm of the Swiss food company to 5.01%. LIC previously had 4,79,54,35 shares in Nestle India, accounting for 4.97%, according to a BSE filing.
The additional 0.41% stake was acquired on 21 August, it added. The Nestle India stock closed 0.02% up at Rs6,618.70 on the BSE.
