Well ahead of the software giant Infosys first quarter (Q1) results, foreign institutional investors (FIIs) have cut their exposure in the company by around a percentage point. As on June 30, FIIs’ holding in the company stood at 39.55% against 40.52% in the immediate previous quarter. On the flip side, domestic institutions (DIIs) have scaled up their holdings in the company by 77 basis points (bps).
Recently, it was reported that State-owned Life Insurance Corporation of India (LIC) has acquired equity shares amounting to Rs 1,069 crore in Infosys during the quarter ended June 2013. LIC, the biggest domestic institutional investor in the equity market, held 5.96 per cent stake in Infosys in the Q4 FY13, which has now gone up to 6.72 per cent as of June 30.