Life Insurance Corporation of India (LIC) increased stakes in 71 listed companies including IRCTC, Voltas, Mphasis and Tech Mahindra (TechM) in the December quarter. These 71 stocks saw an average of 1.56 per cent rise in average prices, PRIME Database said in its latest research note. The institutional investor decreased stakes in 108 companies including BPCL, NTPC, NHPC and Tata Chemicals; these stocks saw 6.35 per cent rise in average stock prices.
In total, LIC owned over 1 per cent stake in 268 listed companies at December quarter end, with its stock investments valuing at Rs 10.91 lakh crore. The market value of stocks that LIC owned stood at 3.95 per cent of the total BSE market capitalisation as on December 31, 2022, compared with 3.87 per cent as on September 30, 2022.
Considering only free float (non-promoter holding), LIC share by value went up to 8.11 per cent in the quarter ending December 2022 from 7.98 per cent a quarter ago.
“In terms of ownership by number of shares or share by volume (Average of ‘LIC Holding as a percentage of total share capital’ across all NSE listed companies), LIC share went down marginally to 0.72 per cent as on December 31, 2022 from 0.75 per cent one quarter back.
The state-run life insurer has been in news of late over its stake in Adani group stocks. LIC said it has not reduced any exposure in Adani Group, but it wants the embattled conglomerate to “throw some light on what is happening in the market.” LIC exposure to Adani group stood at 0.975 per cent of its total assets under management.
Here’s a list of stocks where LIC increased or decreased stakes in the December quarter.
Here’s a list of stocks where LIC’s owner ship increased or decreased the most in value terms.
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