LIC offloads shares in Maruti Suzuki, Bajaj Auto, HUL, UltraTech and more in Q2

LIC’s role in the market

Life Insurance Corporation of India (LIC), a government-owned insurance giant, owns nearly 4 percent of the entire equity market and 2 percent of the bond market.

Here are ten stocks that LIC sold during the second quarter of the financial year 2023.

Auto stocks

Two auto companies figure in the top 10 stocks sold by LIC in Q2 – Maruti Suzuki, in which it sold shares worth ₹3,814 crore, and two-wheeler maker Bajaj Auto – in which ₹1,005 crore worth of shares were sold.

Power stocks

Among its most-sold power stocks were Power Grid Corp of India – in which LIC sold ₹2,452 crore worth of shares, and NTPC – in which it sold shares worth ₹2,066 crore.

FMCG stocks

In the fast-moving consumer goods space, LIC sold shares worth ₹2,033 crore in FMCG giant Hindustan Unilever, while in biscuit maker Britannia Industries, it sold shares worth ₹1,235 crore.

Hindustan Aeronautics

LIC sold shares worth ₹1,940 crore in the state-owned aerospace and defence company in the September quarter. Shares of Hindustan Aeronautics have surged 112 percent in 2022, doubling investors’ money during the period.

UltraTech Cement

The insurance company sold ₹1,482 crore worth shares of the cement maker during the second quarter. UltraTech Cement’s stock has slipped over 12 percent in 2022.

Sun Pharmaceutical Industries

Another stock in the list is Sun Pharmaceutical Industries wherein LIC sold ₹2,356 crore worth of shares. The company’s stock has gained nearly 19 percent in 2022.

Siemens

LIC has sold shares worth ₹1,435 crore in the German technology company in Q2 FY23. The stock has surged 20 percent in 2022 so far.