LIC’s Rs 25,000 Crore Stock Reshuffle: Power Moves in Reliance, TCS, and Defence Sectors

India’s largest insurer, the Life Insurance Corporation of India (LIC), made significant changes to its equity portfolio during the June 2025 quarter. It raised its shareholding in 94 companies while reducing stakes in 72 firms, resulting in net equity investments exceeding ₹25,000 crore.

Currently, LIC holds investments in 345 publicly listed companies, and the total market value of its equity portfolio surged by 10%, reaching ₹16.84 lakh crore—a notable increase from ₹15.26 lakh crore recorded at the end of March 2025.

“In the June 2025 quarter, LIC became a major domestic equities investor, giving Indian markets vital support in the face of increased volatility.”

LIC Increases Equity Exposure by Rs 25,000 Crore in Q1 FY26

Key Additions: Bets on Tech, FMCG, and Defence

Top Buys by LIC This Quarter

One of the most prominent acquisitions was in Reliance Industries Ltd., with Life Insurance Corporation of India (LIC) purchasing 2.56 crore shares worth Rs 3,840 crore. Other significant investments included:

• Info Edge India: 2.2 crore shares (Rs 3,285 crore)

• Tata Consultancy Services (TCS): 83.43 lakh shares (Rs 2,890 crore)

• Larsen & Toubro (L&T): Rs 1,790 crore

• Tata Motors: Rs 1,880 crore

• Hindustan Unilever: Rs 2,324 crore

• HCL Technologies: Rs 2,260 crore

• Coforge: Rs 2,730 crore

• Infosys: Rs 2,500 crore

These additions indicate growing confidence in IT, FMCG, and infrastructure sectors.

LIC’s Top Divestments: Banking and Healthcare See Pullback

Large-Cap Reductions in LIC’s Portfolio

On the selling front, LIC trimmed its exposure in some major financial and healthcare stocks.

“The largest divestment was in HDFC Bank, where it sold 1.87 crore shares worth Rs 3,750 crore.”

Other notable reductions include:

• ICICI Bank: Rs 3,490 crore

• Divi’s Laboratories: Rs 3,060 crore

• Bharti Airtel: Rs 2,061 crore

• Kotak Mahindra Bank: Rs 1,667 crore

• Apollo Hospitals: Rs 1,590 crore

• SRF Ltd: Rs 1,556 crore

• Eicher Motors: Rs 1,550 crore

LIC Exits and New Entries: Strategic Realignments

Exited Stocks: LIC’s Name Removed from 14 Companies

According to regulatory filings, LIC’s name disappeared from the shareholder list of 14 companies during the quarter. This may be due to either full exits or a dip below the 1% shareholding threshold. Notable exits include:

• Coromandel International: Last held at Rs 1,150 crore

• Sanofi Consumer Healthcare: Rs 740 crore

• Ceat Ltd.: Rs 175 crore

Fresh Entries: LIC Targets Chemicals, PSU, and Defence Stocks

Meanwhile, LIC entered 10 new companies, investing in sectors ranging from chemicals to defence. These include:

• Himadri Speciality Chemicals: Rs 288 crore

• Siemens: Rs 1,440 crore

• IREDA: Rs 1,060 crore

• Mazagon Dock Shipbuilders: Rs 4,280 crore

• Firstsource Solutions: Rs 950 crore

• Samvardhana Motherson International: Rs 936 crore

• PCBL Chemical: Rs 440 crore

Top Holdings in LIC’s Rs 16.84 Lakh Crore Equity Portfolio

LIC continues to hold significant stakes in several blue-chip Indian companies. As of June 2025, its three largest holdings are:

• Reliance Industries Ltd: Rs 1.38 lakh crore

• ITC Ltd: Rs 82,342 crore

• HDFC Bank: Rs 68,430 crore

Other notable investments include:

• Tata Consultancy Services: Rs 60,900 crore

• IDBI Bank: Rs 54,756 crore

• ICICI Bank: Rs 53,500 crore

• Bharti Airtel: Rs 49,500 crore

• Larsen & Toubro: Rs 67,900 crore

• State Bank of India: Rs 66,753 crore

• Infosys: Rs 64,700 crore

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