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LIC reduced its stake in Infosys

Life Insurance Corporation of India (LIC) reduced its stake in Infosys by 3.25% by selling its shares worth 850 crore rupees.

Apr 15, 2014 15:40 IST
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Life Insurance Corporation of India (LIC) reduced its stake in Infosys by 3.25% by selling its shares worth 850 crore rupees. During the October-December quarter 2013, it held 3.71% stake in Infosys. Domestic institutional investors also trimmed their exposure in Infosys from 15.35 percent to 13.66 percent in January-March, 2014. However, foreign institutional investors (FII) increased their stake in Infosys to 42.10 per cent from 40.65 percent.

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Background

LIC is the biggest insurer of India and largest institutional investor in the Indian stock markets. It has been reducing its stake in Infosys since June quarter, 2013.  Infosys is Bangalore based country’s second largest IT services exporter. Infosys co-founder N R Narayana Murthy was brought back to head the company in June 2013, following months of poor performance.

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