LIC cuts holding in Chennai Petroleum by 2 percent

Chennai, Oct 3 (IANS) Life Insurance Corporation of India (LIC), one of the largest life insurers in Asia, has reduced its holding in Chennai Petroleum Corporation Ltd (CPCL) by 2.011 percent to 5.041 percent through market sale, the oil refining company said.

In a regulatory filing in BSE on Saturday, CPCL said LIC cut its holding to 5.041 percent from the earlier 7.052 percent between Oct 27, 2009 and Oct 1, 2015.

The total number of shares sold by the insurer during the said period was 29,94,936.

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