Holding rises by 1.45 percentage points from 40.65% at the end of Dec 2013 quarter

Foreign institutional investors (FIIs) are still bullish on Infosys, with their stake in the country’s second largest software firm touching a record high of 42.10% in the January – March 2014 quarter despite the company expecting revenues to come in at the lower end of its forecast for the financial year 2013-14.

FIIs hiked their holding in Infosys by 1.45 percentage points from 40.65% at the end of December 2013 quarter, according to the shareholding pattern filed by the company with the stock exchanges. The number of FIIs who hold the stake in the company has risen to 984 from 897 at the end of December 2013 quarter.

The overseas investors have increased their holding in the company by nearly 3 percentage points since the Infosys board appointed N R Narayana Murthy as executive chairman of the board in June 2013. FIIs held 39.55% stake in the company at the end of June 30, 2013 quarter.

Domestic institutions sell

On the other hand, mutual funds and insurance companies have booked profit in the counter as their combined holding in the company has declined by nearly 2 percentage points.

The total insurance holding dipped to 9.04% during the quarter from 9.82%, while mutual funds reduced their stake to 4.58% from 5.50% in October-December quarter, as per information available with the stock exchanges

For more visit: Business standard

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