LIC reduces stake in Infosys by 1.28% for Rs 2,000 crore

12 Apr 2013

State-run insurer, Life Insurance Corporation of India (LIC), the biggest institutional investors in the stock market has reduced its stake in Infosys to 5.96% in the last quarter with an estimated sale of shares worth over Rs 2,000 crore.

LIC held 7.24% stake in Infosys during the October-December quarter, which has fallen to 5.96% as of March 31.

LIC’s holding in Infosys had gone up during the preceding three quarters, as per the latest data available with the stock exchanges. It held 4.92% stake in the company at the beginning of the last fiscal - April 1, 2012.

Infosys, on the consolidated basis has reported a rise of 3.37% in its net profit at Rs 2394 crore in fourth quarter as compared to Rs 2316 crore in same period previous year. Total income on of the company has increased 17.09% to Rs 11128 crore as against Rs 9504 crore in a year ago period.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323