the country’s biggest Insurance company Life Insurance Corporation of India (LIC) bought shares worth Rs 17 thousand crore in the first quarter of the financial year 2024-25. LIC is the largest institutional investor in the domestic stock market. It made this purchase at a time when the stock market was bullish and a large number of retail investors and domestic institutional investors were investing in the market. However, LIC continues to invest in the market whether the market rises or falls.
Who invested how much
Mutual funds made net purchases of Rs 1.1 lakh crore, insurance companies Rs 5,035 crore and banks Rs 628 crore during the April-June period. Retail investors have made purchases worth Rs 39,278 crore. However, foreign investors made net sales of Rs 8,495 crore during the quarter. Earlier, LIC had bought shares worth Rs 44,500 crore in the January-March quarter and Rs 6,260 crore in the October-December (2023) quarter.
11 new shares added
According to the information, LIC added 11 new shares to its portfolio in the June quarter and increased its stake in 89 existing shares. At the end of the June quarter, LIC had 321 shares in its portfolio. Their combined value was Rs 15.71 lakh crore. At the end of the March quarter, LIC had 333 companies in its portfolio, whose value was around Rs 14.29 lakh crore.
Increased its stake in these shares
According to the data, LIC has increased its stake in stocks like Infosys, LTI Mindtree, L&T, Asian Paints, Kotak Mahindra Bank, Bajaj Finance, ICICI Bank and Oil India. At the same time, it has reduced its stake in stocks like Tata Power, Siemens, Hindalco, Bharti Airtel, HeroMotoCorp and HDFC AMC. At the same time, REC, Dalmia Bharat, Poonawala Fincorp, India Tourism Development and Texmaco Rail and Engineering Limited along with other companies have been added to the portfolio for the first time.
Input: IANS
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