LIC ignores bear howls to strengthen hold on Dalal Street’s most hated corner

India’s largest domestic investor, LIC, has raised its ownership stakes in seven of the biggest Indian tech majors, including TCS, Infosys, Tech Mahindra and Wipro. The state-owned insurer’s investment rose 48 basis points in Infosys, to give it 8.19% ownership, while a 111 basis points increase to 3.34% in L&T Technology Services was the highest. Despite foreign institutional investors expressing recession-related worries in western economies, LIC’s investment in India’s IT sector comes to around INR1.3tn ($17bn), around 13% of its Dalal Street portfolio.

More To Explore

Advertiser Disclosure

Great-investor.com helps users across the globe to find out The latest news, Guides, and Info about finance and investments. Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data.

Disclaimer

It is our organization’s primary mission to provide reviews, commentary, and analysis that are unbiased and objective. While great-investor.com has some data verified by industry participants, it can vary from time to time. Operating as an online business, this site may be compensated through third party advertisers. Our receipt of such compensation shall not be construed as an endorsement or recommendation by great-investor.com, nor shall it bias our reviews, analysis, and opinions. Please see our General Disclaimers for more information.

The information on this website does not constitute investment advice or a recommendation or a solicitation to engage in any investment activity. This website and its content are not intended for residents of the UAE, US, Canada, Australia, UK, Russia, North Korea, China, Japan, Hong Kong, Singapore and Iran.

Top10 International FZ LLE | 17th Floor, Creative Tower | 4422 | Fujairah | TRN: 100608946800003