LIC portfolio shares: Reliance Industries, ITC, TCS, Infosys & SBI among insurer's top stock holdings

Life Insurance Corporation of India (LIC) owned stakes in a few large cap stocks including Reliance Industries, ITC Ltd, Tata Consultancy Services Ltd (TCS) and Infosys Ltd, worth tens of billions, as of March 31. They were a part of a total 273 stocks, where LIC ownership exceeds 1 per cent data showed. Net-net, the institutional giant owned stocks worth Rs 10.05 lakh crore at FY23 end, accounting for 4 per cent worth of all NSE-listed stocks, data compiled by PRIME Database suggested.

The life insurer managed a whopping Rs 1,01,211 crore worth RIL stocks at the end of March quarter. FMCG major ITC was LIC's second biggest stock bet in value terms at Rs 72,745 crore. IT giants TCS and Infosys were LIC's other two big investments at Rs 52,393 crore and Rs 42,588 crore, respectively.

In the case of state-run bank State Bank of India (SBI), private lender ICICI Bank, engineering and construction major Larsen & Toubro (L&T) and Sashidhar Jagdishan-led HDFC Bank, LIC ownership was worth Rs 30,500-43,500 crore. Hindustan Unilever and IDBI Bank were two other big holdings of LIC as of March end, data showed.

In value terms, LIC holding of NSE-listed stocks stood at Rs 10.05 lakh crore on March 31, down 7.82 per cent sequentially. LIC’s share by value in companies listed on NSE jumped 3.99 per cent in March quarter from 3.95 per cent in the December quarter.

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During the quarter, LIC’s holding went up in 63 NSE-listed companies. The average stock price of such companies in the same period fell 10.50 per cent. LIC holding, on the other hand, went down in 82 companies listed on NSE. The average stock price of these companies in the same period decreased by 8.89 per cent, data showed

In percentage terms, IDBI Bank remained LIC's biggest holding at 49.24 per cent, as on March 31. This was followed by LIC Housing Finance (45.24 per cent), ITC (15.26 per cent), NMDC Steel (14.16 per cent) and MTNL (13.12 per cent). Other big holdings percentage-wise included Hindustan Copper, L&T, Oil India, Castrol India and Hero MotoCorp.