📖 Your Q2 Earnings Guide: Discover the Stocks ProPicks AI Highlights to Jump Post-EarningsRead more

LIC shifts focus to IT firms and HDFC Bank, reduces stakes in other banks

EditorAmbhini Aishwarya
Published 11/03/2023, 01:16 AM
© Reuters.
AXBK
-
CNBK
-
HDBK
-
ICBK
-
INBK
-
INFY
-
KBNK
-
LART
-
RELI
-
SBI
-
TTCH
-
TCS
-
TAMO
-
DPNT
-
LTIM
-
SBIC
-

India's largest institutional investor, Life Insurance Corporation (LIC), has adjusted its portfolio, reflecting a shift towards information technology companies and select banks in Q3 2021. LIC increased stakes in IT firms such as Infosys (NS:INFY) and Tata Consultancy Services (NS:TCS), while decreasing its holdings in several banks including Canara Bank, IndusInd, Karnataka Bank, and ICICI Bank.

The insurance giant also ramped up its holdings in HDFC Bank, State Bank of India (SBI), and Axis Bank during this period. This move comes amidst expectations of a recovery in tech demand and a slowdown in bank credit growth.

In addition to the IT sector, LIC also made bullish calls on Tata Chemicals, Deepak Nitrite, SBI Cards, and L&T. The corporation offloaded stakes from 84 firms during this period, including Tata Motors (NYSE:TTM) and Reliance Industries.

Analysts suggest that this shift is due to major threats to the current bull run such as bond yields and the impact of the war in Israel. They advise maintaining liquidity and investing in high-quality companies for a 12-18 month investment horizon.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.