Infosys, IndusInd Bank, Maruti Suzuki, Bajaj Finserv: Stocks that 5 top insurance cos bought & sold in March

Top five insurance companies (excluding LIC), which alone account for Rs 3.5 lakh   crore or 75 per cen of life insurers' asset under management (AUM) in India, bought tinkered with a handful of their portfolio holdings in the month gone by. These insurers together bought Rs 596 crore worth Infosys shares in March, a study by Nuvama Institutional Equities suggest. These institutions also bought Rs 257 crore worth IndusInd Bank shares, Rs 222 crore worth Sona BLW Precision shares, Rs 202 crore worth Astral Pipes shares and Rs 178 crore worth UNO Minda shares in March.

As per Nuvama, ICICI Prudential Life bought Rs 675 crore worth Infosys shares and additional stakes in Sona BLW Precision (Rs 200 crore) and Bajaj Finance (Rs 182 crore). The insurer sold stakes in Reliance Industries (Rs 161 crore), Titan Company (Rs 145 crore) and Maruti Suzuki (Rs 133 crore).

ICICI Prudential entered Campus Activewear and Alkem Laboratories while Medplus Health, Vedanta , Sula Vineyards and One97 Communications (Paytm) were its complete exits.

In the case of SBI Life, its large additions included Reliance Industries (Rs 190  crore), ICICI Bank (Rs 149 crore) and TCS (Rs 107 crore). The stocks it trimmed stakes to included Sun Pharma (Rs 141 crore), Tata Consumer (Rs 112 crore) and Bajaj Finserv (Rs 101 crore).

Tube Investments and Muthoot Finance were new entrants for SBI Life while Butterfly Gandhimati and Global Health were its complete exits.

HDFC Life's large additions included UNO Minda (Rs 177 crore), Astral Pipes (Rs 74 crore) and CG Power (Rs 59 crore). It's prominent reductions were Canara Bank (Rs 88 crore), ABB India (Rs 59 crore) and Page Industries (Rs 40 crore). Tube Investments and  Bluedart were new entrants for HDFC Life while Kajaria Ceramics was a complete exit, Nuvama said.

For Tata AIA Life,  major additions included IndusInd Bank (Rs 130 crore), Reliance Industries (Rs 128 crore) and Indian Hotels (Rs 109 crore).  The fund reduced holdings in KPR Mill (RS 121 crore), MRF (RS 88 crore) and Ashok Leyland (RS 86 crore). L&T Tech Services and Finolex Cables were its new entrants while Laurus Labs was a complete exit.

"Kotak Life's large additions were HDFC (RS 95 crore), LTIMindtree (RS 80 crore) and Power Grid Corp (RS 68 crore). It's prominent reductions included SBI (RS 65 crore), Mahinda & Mahindra (RS 53 crore) and United Breweries (RS 45 crore). New entrants included M&M Fin Services and Federal Bank while  Crompton Greaves and Info Edge were its complete exits," Nuvama said.

               

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