LIC (Life Insurance Corporation of India) IPO has finally hit Dalal Street and is on the verge of sailing through. The insurance behemoth has come with the largest public offering ever witnessed by Dalal Street street, looking to raise Rs 21,000 crore. The public sector giant is also a major force in the stock market, with holdings valued at Rs 9.89 lakh crore at the end of March 2022, data sourced by PrimeInfobase showed. The value of LIC’s holdings is at an all-time high. LIC owns a large stake in blue-chip companies including Reliance Industries, TCS, SBI, and even ITC. Here are some of LIC’s largest stock holdings.
PrimeInfobase data showed that IDBI Bank is LIC’s largest shareholding with a 49.24% stake as of March 31, 2022. IDBI Bank’s stock price is down 12.5% so far this year. LIC is a promoter of IDBI Bank
LIC Housing Finance is the second-largest stock holding of LIC with a 45.24% stake. The share price is down 2.2% in 2022. LIC Housing Finance is a subsidiary of LIC.
ITC is the third-largest stock holding of LIC, owning a 15.83% stake in the company. Shares of ITC have zoomed 19.5% this year.
Other top shareholdings of LIC include NMDC (14.16%), Mahanagar Telephone Nigam(13.12%), Hindustan Copper (12.18%), Larsen & Toubro(11.88%), Oil India(11.71%), Castron India(11.33%), and Rajesh Exports(11.22%).
In value terms, Reliance Industries was the largest stock holding of LIC as on March 31, 2022. PrimeInfobase showed LIC’s stake in RIL stood at Rs 1.08 lakh crore. With RIL’s share price having risen since March-end, the value is expected to have soared higher.
Tata Consultancy Services is the second-largest stake in value terms with a stake valued at Rs 50,543 crore. TCS share price has slipped since March 31.
ITC again figured, with the stake in the cigarette to hospitality firm valued at Rs 48,883 crore at the end of March this year.
Other top holdings in value terms were Infosys, State Bank of India, ICICI Bank, L&T, HUL, IDBI Bank, and HDFC Bank.
What LIC bought in January-March quarter
Data showed that LIC purchased shares of HDFC Bank during the first three months of the current year. LIC bought 2,66,99,675 equity shares worth Rs 3,949 crore. HDFC Bank’s share price fell 0.61% during the period under review.
Reliance Industries was the second largest purchase made by LIC in the quarter, lapping up 1,12,28,403 shares worth Rs 2,720 crore. RIL share price zoomed 11.26% during the period.
Housing Development Finance Corporation (HDFC) shares were also purchased by LIC. Data showed LIC bought 67,18,535 equity shares of the mortgage lender worth Rs 1,646 crore. The stock fell 7.5%.
Hindustan Unilever was also a purchase made by LIC, adding 66,42,686 equity shares worth Rs 1,473 crore as the stock fell 13.2%.