3 large-cap stocks where LIC sold stake in Q2

Market


Life Insurance Corporation (LIC) of India has offloaded stake in good number of stocks during July to September 2022 quarter. Maruti Suzuki, Power Grid Corporation, Sun Pharma, Hindustan Aeronautics, Hindustan Unilever Ltd, etc., are some of the prominent stocks in which the largest domestic institutional investor of Indian stock market has booked profit during Q2FY23.

Here we list out 3 large-cap stocks where LIC sold stake during July to September 2022 quarter:

1] Maruti Suzuki: In Q1FY23, LIC was holding 1,46,87,166 Maruti Suzuki shares, which was 4.86 per cent of total paid up capital of the large-cap auto company. However, in Q2FY23 shareholding pattern of Maruti Suzuki Ltd, LIC’s shareholding in Maruti Suzuki came down at 1,03,66,455 shares or 3.43 per cent of total paid up capital of the company. This means LIC sold out 43.20 lakh Maruti Suzuki share during July to September 2022 quarter.

2] Power Grid Corporation of India: During April to June 2022 shareholding patter of Power Grid Corporation of India Limited, LIC was holding 34,83,35,549 shares, which was 4.99 per cent of total paid up capital of the PSU. However, in July to September 2022 shareholding pattern of Power Grid Corporation of India Limited, LIC’s shareholding came down at 23,68,59,959 shares or 3.40 per cent stake of the company. This means, LIC of India trimmed stake in this PSU during Q2FY23 by offloading 11,14,75,590 Power Grid shares or 1.59 per cent stake of the PSU.

3] Sun Pharmaceutical Industries or Sun Pharma: As per shareholding pattern of Sun Pharmaceutical Industries Ltd for September 2022 quarter, LIC of India holds 10,51,66,136 Sun Pharma shares or 4.38 per cent stake in the company. However, in April to June 2022 shareholding pattern of Sun Pharmaceutical Industries Ltd, the Indian insurer was holding 13,16,69,295 shares or 5.49 per cent stake in the company. This means, the state-owned insurance company sold out 1.11 per cent stake in the company by offloading 2,65,03,159 Sun Pharma shares during Q2FY23.

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