LIC cuts stake in 27 Nifty firms, sells shares worth Rs 8k cr
and Cairn India. Other such companies are ITC, Power Grid Corp, NTPC, Siemens, Bharti Airtel and Hero MotoCorp.
The state-run insurer also marginally hiked its exposure in Ultratech, Gail India, Ranbaxy, Kotak Mahindra Bank and HCL Technologies, while its shareholding remained almost unchanged in companies like ONGC, Tata Steel, BHEL and Reliance Infra.
Among the Nifty companies, LIC's holding in terms of value is estimated to be highest in ITC (Rs 27,326 crore), followed by RIL (Rs 21,659 crore), ONGC (Rs 17,764 crore), SBI (Rs 17,058 crore), L&T (Rs 16,800 crore), and ICICI Bank (Rs
10,006 crore).
Nifty is a well-diversified 50-stock index accounting for 22 sectors of the economy. The index represented about three-fourth of the free float market capitalisation of all the stocks listed on NSE as on December 31, 2012.
The insurance major appears to have mainly booked profits in select stocks from sectors like banks, pharma, auto, refineries and metal.
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