LIC raised its stake in Infosys to 8.19%, at the end of March quarter

19 Apr 2023 , 12:00 PM

For the quarter ending March 31, 2023, IT giant Infosys has presented its shareholding pattern and the state-owned insurer LIC has increased its stake in the company. However, the foreign portfolio investors (FPIs) have reduced their exposure in the company during the March quarter.

As per latest shareholding pattern available on BSE, LIC has bought 1.68 crore shares of Infosys during the March quarter, raising its holding to 8.19% as against 7.71% at the end of the December quarter. Foreigner investors reduced their stake to 35.08% at the end of the March quarter from 36.28% as of December 2022. Despite cuts, Infosys has one of the highest foreign holdings on the Street.

According to the data available with exchanges, mutual funds and insurance companies hold a 31.33% stake in Infosys together. LIC is the largest public shareholder in Infosys. Other insurance firms that have a piece of Infosys shares are ICICI Prudential Life Insurance and SBI Life Insurance which have 1.30% and 1.19% stakes respectively.

On Tuesday, shares of Infosys were trading marginally higher at 0.11% at Rs 1,259.65 on NSE.