Infosys Ltd.

Country's largest insurer, Life Insurance Corporation of India (LIC) has increased its stakes in IT major Infosys to a record 6.3% with share purchases worth an estimated Rs 2,000 crore, in the June quarter of the current fiscal. LIC, also one of the biggest investors in the Indian stock market, upped its stake to 6.3% from 4.9%.

As mentioned in few media reports, the overall FII holding in Infosys has lowered from 39% to nearly 38% during the last quarter, although major investors like Aberdeen, Oppenheimer, Franklin Templeton and Vanguard have raised their stake marginally in the company.

India’s second largest information technology company, Infosys, reported lower than expected Q1 FY13 result for the quarter ended June 30, 2012.  The company posted a rise of 33.25% in its net profit after exceptional item at Rs 2,204 crore for the quarter under review as compared to Rs 1,654 crore for the same quarter in the previous year. Total income increased by 27.98% at Rs 9,368 crore for Q1FY13 as compared Rs 7,320 crore for the corresponding quarter previous year. On the consolidated basis, the group’s net profit rose 32.93% to Rs 2,289 crore for the Q1 FY13 as compared to Rs 1,722 crore in Q1 FY12.