Zomato, Ola, Bajaj Auto, Infosys, HDFC Bank: Stocks that 4 top life insurers bought & sold in August

Four top life insurers were seen buying shares of Zomato Ltd, Bajaj Auto, Poly Medicare, Titan Industries, Ola Electric and Granules India in the month gone by. They were seen selling shares of TVS Motor, Zydus Life, Timken India, Bharti Airtel, Infosys Ltd and HDFC Bank Ltd, among others. 

They entered into eClerx Services, GE T&D India and  Prudent Corporate Advisory while they exited Data Patterns, Park Hotels and Aster DM Health, data available for ICICI Prudential Life Company, HDFC Life, Tata AIA Life and Kotak Life suggested.

Zomato Ltd topped the buying list. The four life insurers owned 10,08,32,000 Zomato shares in August against in 8,40,21,000 shares in July. They bought a net Rs 421 crore worth Zomato shares for the month. At August end, these insurers held Rs 2,526 crore worth Zomato shares, data compiled by Nuvama Institutional Equities suggest.

Bajaj Auto saw Rs 194 crore worth buying by the institutional class, as they upped their exposure in the two-wheeler stock to 3,34,000 shares from 1,56,000 shares in July. They owned Rs 364 crore worth Bajaj Auto shares at August end. 

Oracle Financial was third on the list. Insurers bought 187 crore worth Oracle shares and had exposure of Rs 297 crore to the IT firm at August end. In Poly Medicure, they doubled their exposure to Rs 301 crore.  MFs held 12,87,000 Poly Medicare shares in August against    6,69,000 shares. Net buy stood at Rs 144 crore. 

The four life insurers bought Rs 144 crore worth Prudent Corporate Advisory shares, RS 140 crore worth Titan Company shares and Rs 128 crore worth Page Industries shares. 

TVS Motor was they top reduction. The four insurers sold 11,11,000 TVS Motor shares worth Rs 312 crore in August. They were left with Rs 455 crore holding in the two-wheeler maker. 

In Zydus Life, they sold 25,02,000 shares worth Rs 282 crore. The institutional class owned Rs 154 crore in Zydus Life at August end. 

Timken India saw Rs 236 crore of selling by life insurance companies. It was followed by Bharti Airtel (Rs 217 crore), Schaeffler India (Rs 196 crore), Infosys (Rs 194 crore) and HDFC Bank (Rs 175 crore). 

Prudent Corporate Advisory (Rs 144 crore), Ola Electric (Rs 94 crore), Ceigall (Rs 91 crore), GE T&D India (Rs 71 crore) and eClerx Services (Rs 40 crore) were some of the counters they entered during the month. They Data Patterns India (Rs 814 crore selling), Park Hotels (Rs 14 crore) and Astem DM Health (Rs 5 crore).