LIC reduces stake in Raymond by 2%

State-owned Life Insurance Corporation(LIC) hasreduced its stake in textile and apparel major Raymond by 2.01 per cent, selling 12.37 lakh shares in theopenmarket. LIC, which had 5.53 percent stake earlier, brought down its share holding in the company to 3.51 percent by selling shares between October 11,2016 to September 4, 2017, Raymond said in a filing totheBSE. Raymond promoters Vi jay pat Sing han ia and his son Gautama re involved in a property dispute over possessionof a duplex flat in the multi-storiedJKHouse building in south Mumbai.