LIC bets big on Maruti Suzuki, raises stake to above 5% despite weakness in the auto major

LIC increased its stake in Maruti Suzuki to over 5% by buying 51,750 shares on June 3. This move came despite Maruti Suzuki shares being under pressure. The automaker's MD & CEO Hisashi Takeuchi said, "The introduction of the flex-fuel Wagon R marks more than the debut of a new vehicle."