Country's largest insurer, Life Insurance Corporation (LIC) of India has acquired 2.021% stake in Colgate Palmolive (India) through an open market purchase, taking the total holding in the company to 7.037%. Earlier, the insurer had 5.016% stake in the company.
LIC has acquired additional 54,97,334 shares in the company and now has 1,91,40,291 shares. It earlier had 1,36,42,957 shares in the company.
Colgate Palmolive (India) has trusted brands for dental care, personal care, home care and professional oral care. The company is the fastest growing and one of the oldest companies catering to the personal care products.