Monday, 3 November 2014

LIC reduces stake in Tata Chemicals

State-owned Life Insurance Corporation (LIC) has trimmed its stake in Tata Chemicals by over two percent by selling 52.87 lakh shares in the open market. LIC, which had 6.19% stake earlier, brought down its shareholding in the company to 4.12% by selling shares between March 19, 2013, and October 10, 2014.
Tata Chemicals is the world’s second largest producer of soda ash with manufacturing facilities in Asia, Europe, Africa and North America. The company’s industry essentials product range provides key ingredients to some of the world’s largest manufacturers of glass, detergents and other industrial products.

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