How ITC, IDBI Bank and 8 other shares with significant LIC holdings fared in 2023
Out of 10 stocks, where LIC had maximum holdings as of December 31, shares of seven companies have underperformed the Nifty50 in 2023 so far.
- Mar 10, 2023,
- Updated Mar 10, 2023 8:12 AM IST
Life Insurance Corporation Ltd (LIC) had significant stakes (percentage wise) in IDBI Bank, LIC Housing Finance, ITC, NMDC and Larsen & Toubro (L&T), among others, in the December quarter. Out of 10 stocks, where LIC had maximum holdings, shares of seven companies have underperformed the Nifty50 so far in 2023.
IDBI Bank, where LIC held 49.24 per cent as of December 31, 2022, is down 12.36 per cent this year against a 3.36 per cent drop in the NSE Nifty during the same period.
Housing finance company LIC Housing Finance, in which LIC held 45.24 per cent stake as on December 31, tanked 16 per cent in 2023 so far. In Kolkata-based ITC, LIC owned 15.28 per cent stake at the end of December quarter. This FMCG scrip is up 16 per cent. Mining major NMDC, where LIC held 13.67 per cent stake at the end of December quarter, is down 9.40 per cent year-to-date.
Telecom player MTNL has fallen 21.34 per cent this calendar. LIC owned 13.12 per cent stake in this company as on December 31, 2022. Engineering and construction major L&T shares are up 5 per cent this calendar. LIC had 12.33 per cent stake in the company at the end of December quarter.
Hind Copper (down 12.38 per cent), Castrol India (down 7.72 per cent) and Hero MotoCorp (down 10.18 per cent) are some other stocks, which have significant LIC holdings and have fallen in 2023 so far.
LIC owned 11.89 per cent stake in Hind Copper, 11.29 per cent stake in Castrol India and 11.23 per cent stake Hero MotoCorp, as of December 31.
Oil India was an exception. The scrip surged 25.15 per cent this calendar despite weak broader sentiment. LIC owned 11.31 per cent stake in this company as of December 31.
Life Insurance Corporation Ltd (LIC) had significant stakes (percentage wise) in IDBI Bank, LIC Housing Finance, ITC, NMDC and Larsen & Toubro (L&T), among others, in the December quarter. Out of 10 stocks, where LIC had maximum holdings, shares of seven companies have underperformed the Nifty50 so far in 2023.
IDBI Bank, where LIC held 49.24 per cent as of December 31, 2022, is down 12.36 per cent this year against a 3.36 per cent drop in the NSE Nifty during the same period.
Housing finance company LIC Housing Finance, in which LIC held 45.24 per cent stake as on December 31, tanked 16 per cent in 2023 so far. In Kolkata-based ITC, LIC owned 15.28 per cent stake at the end of December quarter. This FMCG scrip is up 16 per cent. Mining major NMDC, where LIC held 13.67 per cent stake at the end of December quarter, is down 9.40 per cent year-to-date.
Telecom player MTNL has fallen 21.34 per cent this calendar. LIC owned 13.12 per cent stake in this company as on December 31, 2022. Engineering and construction major L&T shares are up 5 per cent this calendar. LIC had 12.33 per cent stake in the company at the end of December quarter.
Hind Copper (down 12.38 per cent), Castrol India (down 7.72 per cent) and Hero MotoCorp (down 10.18 per cent) are some other stocks, which have significant LIC holdings and have fallen in 2023 so far.
LIC owned 11.89 per cent stake in Hind Copper, 11.29 per cent stake in Castrol India and 11.23 per cent stake Hero MotoCorp, as of December 31.
Oil India was an exception. The scrip surged 25.15 per cent this calendar despite weak broader sentiment. LIC owned 11.31 per cent stake in this company as of December 31.