Nykaa, Maruti Suzuki, RIL: Insurance majors upped stake in these 12 firms ahead of Q2 results season

Private insurance firms including ICICI Prudential Life Insurance, HDFC Life Insurance, Tata AIA Life and Kotak Life Insurance raised their stake in a couple of large-, mid- and small-cap firms in September when the benchmark equity index BSE Sensex advanced 1.53 per cent. The BSE MidCap and BSE SmallCap indices gained 3.6 per cent and 1.13 per cent, respectively.

Data collated by Nuvama Wealth Management showed that FSN E-Commerce (Nykaa), Restaurant Brands, NTPC and Union Bank were among the key additions in September. On the other hand, they cut their stake in IDFC First Bank, TVS Motors, Trent, Larsen & Toubro last month.

With orders worth Rs 419 crore, Nykaa emerged as the top pick of insurance firms. It was followed by Restaurant Brands (Rs 398 crore), NTPC (Rs 314 crore), Union Bank (Rs 258 crore), Maruti Suzuki (Rs 245 crore) and Macrotech Developers (Rs 223 crore). Reliance Industries (Rs 182 crore), ICICI Bank (Rs 159 crore), Bikaji Foods (Rs 157 crore), Multi Commodity Exchange (Rs 145 crore), JSW Steel (Rs 145 crore) and Shyam Metalics (Rs 145 crore) were among the other major buys of these insurance firms ahead of September quarter earnings.

SBI Life has not been considered in the calculations as the latest factsheet is not reported, according to Nuvama.

Insurer-wise, the data highlighted that ICICI Prudential Life’s prominent additions were Restaurant Brands (Rs 398 crore), Reliance Industries (Rs 177 crore) and Maruti Suzuki (Rs 165 crore). On the other hand, it slashed holdings in Bajaj Finance (Rs 110 crore), Coal India (Rs 85 crore), Tech Mahindra (Rs 81 crore). Restaurant Brands and RBL Bank were among the new entrants, while Tata Power and Supreme Industries were complete exits of ICICI Prudential Life in September.

HDFC Life’s major additions were FSN E-Commerce (Rs 320 crore), Union Bank (Rs 207 crore), Macrotech Developers (Rs 204 crore). The insurer’s prominent reductions were TVS Motors (Rs 291 crore), Trent (Rs 247 crore) and Whirlpool (Rs 192 crore). FSN E-Commerce and Macrotech Developers were among the new entrants of HDFC Life Insurance, while Kansai Nerolac Paints and Chalet Hotels were among the complete exits.

According to Nuvama, Tata AIA Life’s major additions were NTPC (Rs 194 crore), Shyam Metalics (Rs 145 crore) and Bikaji Foods (Rs 144 crore). On the other hand, the fund cut holdings in IDFC First Bank (Rs 360 crore), Cholamandalam Fin (Rs 248 crore), Crompton Greaves (Rs 141 crore). Shyam Metalics and Shriram Finance were among new entrants, while IDFC First Bank and Indraprastha Gas were complete exits.

Coming to Kotak Life, NTPC (Rs 139 crore), Coal India (Rs 127 crore), Maruti Suzuki (Rs 91 crore) were among the major additions of the insurance firm in its portfolio. Its prominent reductions were Tata Consultancy Services (Rs 147 crore), Britannia Industries (Rs 124 crore), Reliance Industries (Rs 123 crore). New entrants included PG Electroplast and Finolex Cables while Astral Pipes and Gujarat Gas were among complete exits of Kotak Life.

Also read: Hot stocks on October 10, 2023: Tata Motors, Mazagon Dock, Genus Power, IDFC First Bank, Inox Green Energy, and more

Also read: Sensex jumps over 600 points; Nifty tops 19,700: Investor wealth jumps Rs 3.45L cr; Prestige Estates, Godfrey Phillips & NBCC jump up to 11%