HDFC, ACC, Sona BLW, Ambuja Cements, L&T: Stocks that 4 prominent life insurers bought in February

HDFC, ACC, Sona BLW Precision, Persistent Systems and Ambuja Cements were among stocks that four prominent life insurance companies namely ICICI Prudential Life, HDFC Life, Tata AIA Life and Kotak Life Insurance bought on a consolidated basis in February, Nuvama Institutional Equities suggested.

The four insurance companies bought 9,11,000 addition HDFC shares in February, amounting to Rs 238 crore. The four insurance firms held Rs 6,337 crore worth of HDFC shares as on February 28. The insurance companies were seen lapping up 10,03,000 additional shares of ACC worth Rs 174 crore. The four insurance companies held 14,81,000 ACC shares at the end of February against 4,78,000 shares at January-end.

Sona BLW Precision saw these four insurance companies buying Rs 174 crore worth fresh shares. These insurance companies bought shares worth Rs 148 crore in Persistent Systems, Rs 124 crore in Ambuja Cements, Rs 122 crore in Larsen & Toubro, Rs 118 crore in Navin Fluorine and Rs 117 crore in Info Edge.

Bajaj Finserv (Rs 102 crore), KPR Mill (99 per cent), Bajaj Finance (Rs 93 crore) and TCS (Rs 91 crore) were some other stocks that the four insurance companies bought for the month on a consolidated basis.

That said the insurance companies were seen selling Rs 264 crore worth HDFC Bank shares, Rs 222 crore worth LTIMindtree shares, Rs 185 crore worth PVR shares and Rs 142 crore Hero MotoCorp shares. IRCTC and State Bank of India were two other counters where these insurance companies cut stakes in February by over Rs 100 crore. Avenue Supermarts, Kotak Mahindra Bank, Crompton Greaves, HPCL and Bharti Airtel were some of their other key sells.

Meanwhile, Blue Star, Lemon Tree and Karur Vyasa Bank were three stocks they entered in February. Aarti Pharma and Barbeque Nation were their only two exits for the month.

ICICI Prudential Life Insurance's equity assets under management (AUM) stood at Rs 1,00,436 crore at the end of February. HDFC Life's AUM stood at Rs 55,398 crore, Tata AIA Life Insurance's equity assets stood at Rs 16,841 crore while Kotak's stood at Rs 13,429 crore.

Also read: Infosys, TCS, Wipro, TechM, Persistent Systems shares: Up to 40% downside ahead for IT stocks

Also read: Sterling and Wilson Renewable Energy shares jump 9% today amid heavy volumes; here's why