LIC reduces stake in Infosys to 3.25% in Q4 FY14

Life Insurance Corporation of India (LIC), the biggest institutional investor in the stock market, has trimmed its holding in Infosys to 3.25 per cent in the last quarter, with the share sale estimated at over Rs 850 crore. The State-run firm has been reducing its stake in Infosys since June quarter. It held 6.72 per cent stake in the country’s second largest software services exporter at the end of June 30, 2012, according to the latest data available with the stock exchanges. The State-run insurer held 3.71 per cent stake in Infosys during the October-December quarter, which has fallen to 3.25 per cent as of March 31, 2014 Recently, foreign institutional investors (FIIs) increased shareholding in Infosys to 42.1% at the end of March 2014 quarter from 40.65% as on December 31, 2013. Infosys is a global leader in consulting, technology and outsourcing solutions. The company enables clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition.