LIC buys Rs. 3,000 cr-worth Infosys stocks, ups stake

BANGALORE, INDIA: Defying the prevailing sentiments, the Life Insurance Corporation of India (LIC) has increased it stake in Infosys Limited to 7.24 per cent, this time investing in shares worth approximately Rs. 3,300 crore.

Since April 1, 2012, the LIC used to hold 4.92 per cent stake in Infy, and now it has hiked it up by 2.32 per cent.

Apparenlty, LIC's Infosys holding has gone up during all the three quarters so far in the current fiscal 2012-13, as per the IT firm's latest shareholding pattern data, suggested reports.

Infy's stock value has been fluctuating a lot over the last couple of quarters, with investors getting jittery over the company's performance in recent times.

The IT major is announcing its third quarter results for the financial year 2013 on Friday.