LIC trims stake in Infosys to 3.25%; garners ₹850 cr
LIC, the biggest institutional investor in the stock market, the State-run insurer Life Insurance Corporation of India (LIC) has reduced its stake in Infosys, the country’s second largest software services exporter, to 3.25% in the last quarter. The share sale estimated at over ₹850 crore.
LIC sold shares at a time (during the January-March quarter) when FIIs increased their share in Infosys from 40.65% to 42.10%. Nevertheless, domestic institutional investors reduced their exposure in Infosys from 15.35% to 13.66%.
Categories: Business & Economy Current Affairs 2017