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

Nov 18, 2022

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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.

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

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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