LIC stock portfolio: ITC, Adani Enterprises, RIL, TCS among shares that insurer bought in Q1

Life Insurance Corporation of India Ltd (LIC), which manages equity assets worth Rs 11.16 lakh crore, was seen raising stakes in 50 listed companies such as ITC Ltd, Adani Enterprises Ltd and Reliance Industries in the June quarter. The largest life insurer, which owns stakes in 273 listed firms, trimmed stakes in 101 others in the June quarter, data compiled by PRIME Database suggests.

In value terms, LIC's stake in ITC jumped Rs 12,918 crore to Rs 85,662 crore at the end of June quarter from 72,745 crore at the end of March quarter. The scrip was up 17 per cent during the quarter. In RIL, LIC's holding in value terms jumped Rs 7,902 crore from Rs 1,09,112 crore. IDBI Bank (Rs 5,479 crore), Bharti Airtel (Rs 4,168 crore), State Bank of India (Rs 3,803 crore), Larsen & Toubro (Rs 3,725 crore) and Tata Consultancy Services (Rs 3,591 crore) were among stocks that LIC bought in the June quarter.

In percentage terms, LIC had 9.22 per cent stake in NMDC as on June 30 while its stake in the state-run miner was less than 1 per cent in the March quarter. In Tata Chemicals, LIC upped stake by 301 basis points to 7.14 per cent from 4.13 per cent sequentially. SAIL (up 240 basis points), Bata India (173 basis points) and Indian Energy Exchange (164 basis points) were some other listed companies where LIC hiked stakes in the June quarter.

LIC's equity assets grew 10.97 per cent for the quarter. LIC commanded a 3.85 per cent share in terms of value in NSE-listed companies as on June 30.

Among the stocks that LIC sold, the insurer’s holding in Adani Total Gas fell Rs 1,411 crore in value terms as the scrip fell 25 per cent for the quarter. LIC still held Rs 4,333 crore worth Adani Total Gas shares in Q1 against Rs 5,743 crore in Q4. Adani Transmission, whose shares were down 23 per cent for the quarter, saw LIC stake falling Rs 928 crore to Rs 3152 crore from Rs 4,080 crore. Alkem Labs (Rs 886 crore), UltraTech Cement (Rs 825 crore), Bajaj Auto (Rs 798 crore) and Hindustan Unilever (Rs 794 crore) saw trimming of LIC stakes.

In percentage terms, LIC cut stakes in United Nilgiri Tea Estates by 230 basis points to 3.33 per cent from 5.63 per cent sequentially. Others included Alkem Labs (down 224 basis points), Bajaj Auto (down 153 basis points), TVS Motor (down 111 basis points), HEG (down 104 basis points) and PI Industries (down 102 basis points).

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