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.

Created On: Apr 15, 2014 15:40 ISTModified On: Apr 15, 2014 15:44 IST

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.

image
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.

If you have any Question/Point on the above information, please ask/discuss it in the Current Affairs Group

Take Weekly Tests on app for exam prep and compete with others. Download Current Affairs and GK app

एग्जाम की तैयारी के लिए ऐप पर वीकली टेस्ट लें और दूसरों के साथ प्रतिस्पर्धा करें। डाउनलोड करें करेंट अफेयर्स ऐप

AndroidIOS
Comment ()

Post Comment

8 + 4 =
Post

Comments