Mahindra & Mahindra today said Life Insurance Corporation Of India (LIC) has divested 2 per cent stake in the company. Post the stake sale of the 2.001 per cent shares, LIC now has 9.958 per cent stake in the company, M&M said in a filing to BSE. LIC earlier had 11.959 per cent stake in the company, the company added.
The insurance firm has sold over 1.2 crore shares through market sale, M&M said. He called for verticals to come together as a cohesive group, prepare strategy and take it to the board for broader discussion and guidance, he said, stressing priority sector activity should not remain confined to being mere data collection.