HAL, BSE, Meesho, Swiggy, Infy: Stocks top 4 life insurers bought, sold in September

Hindustan Aeronautics Ltd (HAL), Meesho, Swiggy Ltd, Bharat Forge Ltd, Syrma SGS and Ultratech Cement Ltd are among stocks that four top private insurers bought in September, data for ICICI Life Insurance, HDFC Life, Tata AIA Life and Kotak Life, showed.

BSE Ltd, PB Fintech Ltd, Swiggy Ltd, Infosys Ltd and Bajaj Finance Ltd were among stocks where the four life insurers trimmed stakes in the month gone by, Nuvama Institutional Equities said.

Among top additions, the four life insurers bought 20,59,000 Bharat Forge shares worth Rs 397 crore in September. The insurers held a total Rs 1,562 crore worth Bharat Forge shares at the end of the month.

UltraTech Cement saw insurers adding Rs 308 crore worth 2,8,1000 shares. They owned Rs 2,226 crore worth cement maker's shares at September end.

A total of 1,21,39,000 Meeso shares were bought for a net Rs 276 crore. HAL also witnessed Rs 259 crore in buying by the four insurers, taking their exposure in the defence player to Rs 1,016 crore. AUSFB, Syrma SGS, Aditya Infotech and Finolex Cables saw Rs 201-254 crore in insurer buying. Gland Pharma, Swiggy, Schaeffler India and Ajanta Pharma were some other picks.

On the flip side, they sold Rs 796 crore worth BSE shares in September. PB Fintech and Infosys saw the insurers trimming exposure by a net Rs 774 crore and Rs 355 crore, respectively. Voltas, Oil India, Eternal, Havells India and Polycab India saw selling up to Rs 322 crore.

Among individual insurers, ICICI Prudential Life Insurance's prominent additions were Swiggy (Rs 205 crore), Reliance Industries (Rs 157 crore) and Vishal Mega Mart (Rs 99 crore). The fund reduced its holdings in BSE (Rs 393 crore), Redington (Rs 193 crore) and Polycab India (Rs 114 crore). Clean Max Enviro and Tilaknagar Industries were new entrants, while Tata Elxsi and Sundaram Finance were complete exits.

SBI Life Insurance's major additions were Eternal (Rs 861 crore), HDFC Bank (Rs 496 crore) and One 97 Communications (Rs 106 crore). Its major reductions were in BSE (Rs 544 crore), Infosys (Rs 375 crore) and Bajaj Finance (Rs 125 crore).

HDFC Life Insurance's major additions were Aditya Infotech (Rs 201 crore), Syrma SGS Technology (Rs 181 crore) and Gland Pharma (Rs 177 crore). Its prominent reductions were in BSE (Rs 724 crore), Oil India (Rs 258 crore) and Havells India (Rs 201 crore).

Tata AIA Life Insurance's major additions were Bharat Forge (Rs 338 crore), BSE (Rs 324 crore) and AU Small Finance Bank (Rs 298 crore). The fund reduced its holdings in Eternal (Rs 257 crore), ICICI Bank (Rs 71 crore) and Jindal Steel (Rs 68 crore). Prasol Chemicals and Cupid were new entrants, while PB Fintech and Voltas were complete exits.

Kotak Mahindra Life Insurance's major additions were UltraTech Cement (Rs 281 crore), Granules India (Rs 137 crore) and HDFC Bank (Rs 69 crore). Its prominent reductions were in Infosys (Rs 253 crore), Bajaj Finance (Rs 108 crore) and Eternal (Rs 10 crore).