India's largest state own Insurance cmpany LIC buys Rs 300 crore Infosys shares in Q-4
India's largest state own Insurance cmpany LIC buys Rs 300 crore Infosys shares in Q-4.
The LIC has shored up its stake in
Infosys to 4.81 % in the
This is the fourth consecutive quarter of share purchase by
LIC in the software services firm.
LIC held 4.69 % stake in Infosys during the
October-December quarter and increased that to 4.81 % as of March 31,
2015, as per latest data available with the stock exchanges.hike in LIC's holding in the company would be
worth about Rs 317 crore.
At present, LIC is biggest insurance sector in India where
govt. has 100% share.
Life Insurance Corporation of India (LIC) is an Indian
state-owned insurance group and investment company headquartered in Mumbai.
is the largest insurance company in India with an estimated asset value of US $240 billion.
The company was founded in 1956 when the Parliament of India
passed the Life Insurance of India Act
Its Products are Life insurance, health insurance,
investment management, mutual fund etc.
Today,the LIC has 8 zonal offices, around 109 divisional
offices, 2,048 branches and 992 satellite offices and corporate offices
LIC's slogan yogakshemam vahamyaha is in Sanskrit language
which translates in English as "Your welfare is our responsibility".