LIC ups Infosys stake by over 2 per cent

State-run insurer LIC has hiked its stake in Infosys to 7.24 per cent, raising its holding in the IT major for third straight quarter with an estimated purchase of shares worth over Rs 3,000 crore.

Life Insurance Corporation (LIC), which figures among the country's biggest institutional investors in stock market, held 4.92 per cent stake in Infosys at the beginning of the current fiscal on April 1, 2012, which has now risen to 7.24 per cent.

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

Taking into account the average market value of Infosys shares, the 2.32 per cent increase in LIC's holding in the company would be worth an estimated Rs 3,300 crore.