India’s biggest insurer has been scaling back its stock market bets. Life Insurance Corporation of India’s (LIC's) stake in listed companies was at its lowest in 50 quarters for the quarter ended September 2021, shows the data from primeinfobase.com.
LIC owns 3.69 per cent of the total listed universe based on available disclosures, the lowest since at least June 2009, shows the data. This is a fall from the 3.74 per cent stake held in the June 2021 quarter. The stake has largely been in decline since June 2012. It then owned 5 per cent of the total value of companies listed on the National Stock Exchange (NSE).
The analysis is based on 1,688 of the total 1,732 companies listed