The top 10 stock holdings of Life Insurance Corporation of India (LIC), which account for roughly half of the life insurer’s total equity portfolio, fared in line with the market in 2023 so far, falling a combined 3 per cent in notional value against a 3.81 per cent drop in the NSE Nifty and a 2.7 per cent fall in the BSE Sensex during the same period.
Overall, the market value of LIC’s stakes in top 10 holdings dropped to Rs 4,86,091 crore as of Monday’s closing against Rs 5,01,439 crore. This is based on LIC’s stakes in the companies as on December 31, 2022. The March quarter shareholding for the companies are yet to be out.
In the case of its biggest holding Reliance Industries (RIL), LIC’s 6.53 per cent stake in the oil-to-telecom major was valued at Rs 1,03,010 crore, as on Monday’s closing, against Rs 1,12,540 crore, as on December 31, data compiled from corporate database AceEquity suggests.
LIC held 15.29 per cent stake in cigarette maker ITC as of December-end. That stake was worth Rs 72,000 crore on Monday against Rs 62,923 crore as on December 31. Tata Consultancy Services and Infosys were LIC’s third and fourth largest holdings at the end of December quarter.
Data showed LIC’s 4.41 per cent stake in TCS was valued at Rs 51,636 crore, as on Monday’s closing, against Rs 52,551 crore, as on December 31.
In Infosys, the value of LIC’s 7.71 per cent stake dropped to Rs 45,126 crore from Rs 48,640 crore. The value of LIC’s holdings in four banks namely State Bank Of India (Rs 41,134 crore from Rs 47,924 crore), ICICI Bank (Rs 47,520 crore from Rs 47,859 crore), HDFC Bank (Rs 37,024 crore from Rs 37,408 crore) and IDBI Bank (Rs 24,593 crore from Rs 28,775 crore) dropped.
LIC’s 12.50 per cent stake in Larsen & Toubro was worth Rs 38,126 crore against Rs 36,641 crore.
Its 4.35 per cent stake in HUL was worth Rs 25,921 crore against Rs 26,176 crore.
As per PRIME Database, LICтАЩs share by value in companies listed on NSE went up to 3.95 per cent in December quarter from 3.87 per cent in September quarte. In rupee terms, LIC’s equity holding stood at Rs 10.91 lakh crore on December 31, 2022. This was an increase of 6.10 per cent over the September quarter. March quarter shareholding patterns will be out shortly.
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