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New Delhi. The country's largest insurance company, Life Insurance Corporation of India (LIC), is a name that is known to everyone from villages to cities. At the same time, LIC, the largest institutional investor in the stock markets, increased its stake in 75 of its 285 holdings during the September quarter and added 7 new shares to its portfolio.
The company's total gross purchase value in the September quarter was Rs 56,000 crore, of which about half the amount was invested in large-cap shares. At the same time, the total selling value was more than Rs 38,000 crore, due to which the net purchase was more than Rs 18,000 crore.
LIC reduced its stake in 84 shares
In this quarter, LIC reduced its stake in 84 shares and completely exited 7 companies. There was no change in its stake in the remaining 111 shares. According to data from Prime Database, the total value of LIC's portfolio of 285 stocks rose to Rs 16.76 lakh crore from Rs 15.72 lakh crore in the previous quarter. Incidentally, this strategic purchase coincided with strong flows from Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs). During the same period, FIIs invested Rs 88,459 crore while DIIs invested Rs 1.04 lakh crore.
LIC has invested money in these big companies
LIC's most significant investments in blue-chip stocks included Larsen & Toubro (L&T), with a purchase of Rs 3,439 crore, followed by Maruti Suzuki India (₹2,857 crore) and Bajaj Finance Limited (₹2,659 crore). Other major investments included IndusInd Bank (₹2,396 crores), Mahindra & Mahindra (₹1,839 crores), State Bank of India (₹1,824 crores), Reliance Industries (₹1,686 crores), Bajaj Finserv (₹1,519 crores), Kotak Mahindra Bank (₹1,363 crores) and ICICI Bank (₹1,351 crores).
LIC reduced stake in these big companies
On the sale front, LIC's biggest divestments included Lupin, in which shares worth Rs 2,230 crore were sold, followed by NTPC and HDFC Asset Management shares worth Rs 2,129 crore and Rs 2,105 crore respectively. Other major divestments included Hero MotoCorp (₹1,987 crore), Tata Consultancy Services (₹1,732 crore), GAIL India (₹1,726 crore), Voltas (₹1,718 crore), Tata Power (₹1,706 crore) and HPCL (₹1,562 crore).
Added these 7 stocks to the portfolio
LIC also added 7 new stocks to diversify its portfolio, including Cyient Limited, Shyam Metallics & Energy Limited, Sanofi Consumer Healthcare India, Shriram Finance, IDFC First Bank, Bank of Maharashtra, and Bharat Electronics, with total purchases worth about Rs 8,560 crore.