New Delhi, May 5 -- Nippon India Asset Management has marginally raised its stake in healthcare stock Sanofi Consumer Healthcare, reinforcing its conviction in the counter.

Nippon Life India Asset Management's share price was trading 2.48% higher at Rs.1,043 apiece on NSE on Tuesday. Meanwhile, Sanofi Consumer share price was down 3%.

In an exchange filing dated 4 May, Nippon India AMC announced that it has increased its stake in healthcare firm Sanofi Consumer Healthcare by 0.13% on behalf of Nippon India Mutual Fund through an open market transaction.

As per the disclosure, Nippon India Mutual Fund raised its holding to 5.04% from 4.91% after acquiring an additional 30,000 equity shares of the company.

Following the purchase, the mu...