LIC Increases Stake In Nestle To Over 5%

Nestle India Share Price: This jump comes after Life Insurance Corporation of India (LIC) announced an increase in its stake in the packaged food company.

LIC Increases Stake In Nestle To Over 5%

Life Insurance Corp. increased its stake in Nestle India Ltd. to 5.001% via a market purchase, according to an exchange filing from the fast-moving consumer goods company on Monday.Having undertaken the transaction on Friday, LIC purchased 1.49 lakh shares of Nestle, adding an additional 0.015% ownership to its stake in the company.Post the acquisition, LIC's number of Nestle India shares in possession went from 4.8 crore shares or 4.986% to 4.8…