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  Business   Companies  15 Jan 2018  LIC sells over 2 per cent stake in Merck Ltd; stock surges over 19 pc

LIC sells over 2 per cent stake in Merck Ltd; stock surges over 19 pc

PTI
Published : Jan 15, 2018, 3:06 pm IST
Updated : Jan 15, 2018, 3:06 pm IST

Over 5.5 lakh shares of the company were traded on both NSE and BSE stock exchanges.

LIC earlier had 12,74,823 shares in the company constituting 7.68 per cent stake.
 LIC earlier had 12,74,823 shares in the company constituting 7.68 per cent stake.

New Delhi: Life Insurance Corporation has sold a little over 2 per cent stake in drug and chemical firm Merck Ltd through an open market transaction.

With the sale, the total shareholding of the insurer has come down to 5.6 per cent, Merck Ltd said in a BSE filing.

LIC earlier had 12,74,823 shares in the company constituting 7.68 per cent stake. It sold 3,43,147 shares totalling 2.06 per cent.

The stock surged to a 52-week high of Rs 1,687.30 and trading volume soared over 7.25 times in day trade on BSE.

Over 5.5 lakh shares of the company were traded on both NSE and BSE stock exchanges. The stock was trading up by 19.48 per cent at Rs 1,680 on BSE.

The scrip was trading higher by 18.80 per cent at Rs 1,670.00 on NSE at 1450 hrs.

Tags: lic, shares, merck ltd
Location: India, Delhi, New Delhi