Business Standard

LIC buys PSU stocks, sells pvt sector blue-chips in Q4

Major investments included ONGC (Rs 10,800 cr), PNB (Rs 1,900 cr), Bank of Baroda (Rs 1,400 cr), Bank of India (Rs 1,000 cr)

Related News

State-run insurance giant LIC purchased shares worth an estimated Rs 20,000 crore, mostly of public sector companies, during the last quarter of 2011-12, but also sold shares of many private sector giants.

While it purchased shares of state-run ONGC and many PSU banks, of India (LIC) is also estimated to have sold shares worth a total of about Rs 8,000 crore in various companies, which mostly included private sector blue-chips like , , , , , , L&T and .

The major public sector companies whose shares were sold by LIC during the quarter (January-March, 2012) included State Bank of India (SBI) and Power Grid. On the other hand, the only major additional private sector investment was made by LIC in during this period.

As per the data compiled by investment banking and equity research firm Kotak Institutional Equities, LIC's major investments during the quarter included ONGC (Rs 10,800 crore), PNB (Rs 1,900 crore), Bank of Baroda (Rs 1,400 crore) and Bank of India (Rs 1,000 crore).
   
The other companies where LIC invested during this period included NMDC, LIC Housing Finance, PFC, , Sun Pharma and Allahabad Bank.
   
On the other hand, LIC lowered its exposure to companies like SBI (with sale of shares worth an estimated Rs 1,400 crore), Tata Motors (Rs 1,200 crore), ICICI Bank (Rs 940 crore), ITC (Rs 750 crore), Bajaj Auto (Rs 600 crore), Reliance Industries (Rs 580 crore), Maruti Suzuki (Rs 550 crore), L&T (Rs 520 crore), PowerGrid (Rs 510 crore) and HDFC (Rs 450 crore).
   
LIC raised its stake in PNB by 6.2%, while the increase in its holding was 4-6 per cent in cases like ONGC, Bank of Baroda, Bank of India, LIC Housing Finance, Union Bank and Allahabad Bank.
   
The state-run insurer also pared its stake by 1-2% in companies like SBI, Tata Motors, Bajaj Auto, Maruti and PowerGrid.
   
As per the Kotak report, the 40 top stocks in LIC portfolio accounted for 79% of its total equity portfolio in the country. These stocks included ITC (7.8% of LIC's portfolio), ONGC (6.5%), RIL (6.4%), SBI (5.7%), L&T (5.3%), ICICI Bank (3.5%) and Infosys (3%).
   
The other major stocks in LIC portfolio include HDFC Bank, Tata Steel, TCS, M&M, Bharti Airtel, LIC Housing Finance, NTPC, Tata Motors, PNB, BHEL, HUL, GAIL, BoB, NMDC, Maruti, Tata Power and HDFC.

Read more on:   
|
|
|
|
|
|
|
|
|
|

Read More

Agri Min proposes Rs 170/quintal hike in paddy MSP

In view of rising farm input costs, the Agriculture Ministry has proposed a Rs 170 per quintal increase in the minimum support price (MSP) of paddy ...

Quick Links

 

Market News

Plea against MF body as self-regulator admitted

The Securities Appellate Tribunal (SAT) has admitted an appeal against a decision on approval given for setting up a regulatory organisation for ...

El Niño worries inflation managers

RBI has decided to consider inflation based on new series CPI in which half of the weight is for food, beverages and tobacco

Coffee at 26-month high as Brazil drought raises price volatility

Coffee futures jumped as much as 8.3 per cent, driving volatility to the highest since 2000

JSW Steel mulls using Goan ore for Dolvi plant

The company plans to participate in e-auctions at Goa as and when the ore with 58% Fe is auctioned

SC ruling on Goa mining may hurt 19 Odisha mines

The average combined annual production of these mines works out to about 0.4 mt

Back to Top