LIC REDUCES STAKE OF 0.4% IN IT GIANT INFOSYS ,SLIDES DOWN FROM 3.71% TO 3.25%
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LIC REDUCES STAKE OF 0.4% IN IT GIANT INFOSYS ,SLIDES DOWN FROM 3.71% TO 3.25%

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NEW DELHI: State-run insurer Life Insurance Corporation of India (LIC) has reduced its stake in Infosys to 3.25 per cent in the last quarter, with the share sale estimated at over Rs 850 crore.

LIC, the biggest institutional investor in the stock market, held 3.71 per cent stake in Infosys during the October-December quarter, which has fallen to 3.25 percent as of March 31, 2014.

The state-run firm has been reducing its stake in Infosys since June quarter.

Taking into account the current market value of Infosys shares, the 0.4 per cent decline in LIC’s holding in the company would be worth about Rs 852 crore

Courtesy :Agencies(PTI)

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