LIC Cuts Stake: Life Insurance Corporation of India is the largest institutional investor in the stock market. LIC has about 300 shares in its portfolio. Recently, LIC’s portfolio has changed
LIC Cuts Stake
Life Insurance Corporation of India is the largest institutional investor in the stock market. LIC has about 300 shares in its portfolio. Recently, LIC’s portfolio has changed with LIC divesting 16 public sector companies.
LIC reduced its stake to a total of 80 shares. By the end of the January-March quarter, its total stake in the stock market has reached around Rs 14 lakh crore. After this there has been a change in the shareholding of LIC.
LIC has reduced its stake in 16 government-owned companies. Most of them have given double digit returns of more than 10 percent in the last one year. Despite this, LIC has reduced its stake in these companies. LIC has made a total of Rs 1.6 lakh crore in 2024 from total equity investments. It means LIC has booked profit.
LIC has reduced its stake in BHEL, SAIL, Coal India, Oil India, Mahanagar Gas, Mangalore Oil, SBI, Canara Bank, Hindustan Petroleum, NMDC, NMDC Steel, Shipping Corporation, Indian Oil, Container Corporation, ONGC and NTPC.
#LIC has reduced ownership in at least 80 stocks, including 16 PSUs, in the March quarter with the market value of its portfolio surging to Rs 14 lakh crore.@nikkhill https://t.co/AcIs9nhFHv
— ETMarkets (@ETMarkets) April 25, 2024
LIC has reduced its stake in some of these shares and increased its stake in several other companies. Other investors monitor LIC’s portfolio the way people monitor the portfolio of Rekha Jhunjhunwala or Radhakrishna Damani, because it becomes easier to predict the future of the market.
According to reports, LIC has increased its stake in several government companies. These include NLC, Indraprastha Gas Limited, Bank of Baroda, NHPC, Hindustan Aeronautics, Sutlej Jal Vidyut Nigam, IRCTC, Power Grid and Rail Vikas Nigam.
Besides, LIC has partnered with private sector companies such as Tata Power, Vedanta, JSW Energy, Voltas, Tata Motors, L&T, Naveen Florin, Bata India, Swan Energy, Infosys, Nestlé, Apollo Tires, Asian Paints, L&T Mindtree, Patanjali Foods. has done
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