LIC June quarter buys: Bharti Airtel, Maruti top picks; Coal India biggest sell

LIC reshuffled its June quarter equity portfolio, emerging a net buyer as it added to select large-caps and cut others. Even as its holdings value rose, its share in the NSE-listed market slipped to a record low.Financial sector holdings rose, IT and energy sector weights declined. Life Insurance Corporation of India (LIC), the country's largest domestic institutional investor, reshuffled its massive Rs 16.30 lakh crore equity portfolio during the June quarter, buying shares worth an estimated Rs 16,578 crore while selling stocks worth over Rs 13,400 crore across its biggest portfolio changes.The insurer emerged as a net buyer during the quarter, with telecom major Bharti Airtel, automobile giant Maruti Suzuki and FMCG heavyweight ITC topping its shopping list. On the other hand, LIC pared its holdings in Coal India, State Bank of India (SBI), Hindustan Unilever and Tata Steel, among others.Despite fresh investments, LIC's share of the NSE-listed equity market slipped to an all-time low, highlighting that the broader stock market expanded at a faster pace than the insurer's portfolio.BHARTI AIRTEL, MARUTI LED LIC'S BUYINGBharti Airtel emerged as LIC's biggest stock purchase in the June quarter, with the insurer buying shares worth an estimated Rs 2,721 crore. LIC increased its holding in the telecom company by nearly 1.47 crore shares, taking its total holding to 25.82 crore shares as of June 30.Maruti Suzuki was the second-largest addition to the portfolio at Rs 2,267 crore, followed by ITC, where LIC bought shares worth Rs 1,742 crore. During the quarter, the insurer added around 17.02 lakh shares of Maruti Suzuki and 5.84 crore shares of ITC. Other major purchases included:Kotak Mahindra Bank – Rs 1,520 croreUltraTech Cement – Rs 1,491 croreReliance Industries – Rs 1,425 croreBajaj Finance – Rs 1,414 croreLupin – Rs 1,375 crorePower Grid Corporation – Rs 1,340 croreIndian Railway Finance Corporation (IRFC) – Rs 1,283 croreLIC added more than 13.06 crore shares of IRFC during the quarter, taking its holding in the company to 46.22 crore shares.COAL INDIA, SBI TOPPED THE SELLING LISTAlongside buying, LIC also trimmed exposure to several large-cap stocks.Coal India witnessed the biggest reduction, with LIC selling shares worth an estimated Rs 2,271 crore after reducing its holding by nearly 4.97 crore shares.State Bank of India followed with estimated sales worth Rs 2,198 crore as LIC reduced its holding by 2.15 crore shares to 78.14 crore shares.The insurer also reduced its exposure in:Hindustan Unilever (HUL) – Rs 1,681 croreSteel Authority of India (SAIL) – Rs 1,497 croreTata Steel – Rs 1,415 croreBharat Forge – Rs 977 croreTata Consumer Products – Rs 905 croreICICI Bank – Rs 884 croreNestle India – Rs 793 croreONGC – Rs 785 croreThe report noted that some of these sales came after strong gains in the stocks during the quarter. Bharat Forge rose 28%, Nestle India gained 20%, SAIL advanced 14.6% and ICICI Bank climbed 14%, while ONGC, Coal India and Tata Steel posted declines.PORTFOLIO GREW, BUT MARKET SHARE FELLAcross its broader portfolio, LIC remained a net buyer of an estimated Rs 8,137 crore during the June quarter. It increased holdings in 54 NSE-listed companies but reduced stakes in 114 companies.Even so, LIC's share by value in NSE-listed companies declined to an all-time low of 3.48% as of June 30, down from 3.72% at the end of March. Its share of the free-float market also fell to 6.98% from 7.43%.The decline came despite the value of LIC's equity holdings rising by 7.72%, or about Rs 1.17 lakh crore, during the quarter to Rs 16.30 lakh crore, suggesting that the overall listed market expanded faster than the insurer's portfolio.FINANCIALS REMAIN LIC'S BIGGEST BETFinancial services continued to dominate LIC's portfolio.The value of the insurer's financial holdings increased by Rs 55,288 crore to Rs 4.40 lakh crore during the quarter, accounting for 26.99% of its equity portfolio, up from 25.41% in the previous quarter.On the other hand, the weight of information technology stocks declined. The value of LIC's IT holdings fell by Rs 22,067 crore to Rs 1.50 lakh crore, reducing the sector's share in the portfolio to 9.18% from 11.35%. The energy sector's weight also declined to 13.72% from 15.18%.Reliance Industries continued to be LIC's biggest listed investment by value at Rs 1.18 lakh crore.It was followed by SBI at Rs 80,243 crore and Larsen & Toubro at Rs 70,124 crore. Other companies among LIC's top equity holdings include ITC, HDFC Bank, Bharti Airtel, IDBI Bank, Infosys, ICICI Bank and Tata Consultancy Services.- EndsPublished On: Aug 5, 2026 13:00 IST