How LIC has played smart with the Infosys stock?

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 How LIC has played smart with the Infosys stock?
In the quarter ending March 31, 2013, Life Insurance Corporation sold shares in Infosys worth Rs 2000 crores and reduced its stake in the company to 5.96 per cent, according to a PTI report.

The company had a stake of almost 7.24 per cent in the company in the previous quarter ending December 31, 2013, according to the report.

Now, LIC has been lucky because the Infosys stock had flared almost 18 per cent after Infosys declared its Q3 results on Jan 12 and has remained one of the best performing stocks in 2013, until its results today.

This means, LIC which sold shares worth Rs 2000 crores in the company from Jan 1 to March 31, 2013 would have got an excellent price for the Infosys stock. Had the institution not sold the stock, it would have seen its portfolio value erode, given the huge fall in the stock of almost 20 per cent today.

Smart investing by LIC indeed.

Read more about: infosys, lic
Story first published: Friday, April 12, 2013, 13:02 [IST]
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