India’s largest state-owned insurance company, Life Insurance Corporation, has lately been on a shopping spree as the insurance giant has raised its stake in 76 new companies and has made 13 new additions to its portfolio.
According to reports, the insurance giant has made strong purchases in the September 2025 quarter, acting as a stablising force for domestic equities amid weak market sentiments and heavy selling by foreign institutional investors.
LIC portfolio in Q2FY26
As per the data available, LIC has made net equity purchases of nearly ₹21,700 crore in the September quarter. LIC has increased its holdings in 76 listed firms and reduced its stake in 81, while also adding 13 new stocks to its portfolio for the first time.
However, its name no longer appears in the shareholding patterns of 31 companies — though it’s uncertain whether LIC completely exited these stocks or if its stake dropped below the 1 per cent disclosure threshold.
Despite the buying momentum, the total market value of LIC’s portfolio has declined by 1.7 percent to ₹16.09 lakh crore at the end of September, down from ₹16.36 lakh crore in June, following the overall market downturn. By the end of the quarter, LIC maintained holdings in 322 listed companies.
LIC raised its stakes in THESE companies
The insurance giant increased its stake in State Bank of India the most, with the insurer purchasing an additional 6.42 crore shares valued at ₹5,599 crore.
LIC also raised its holdings in Sun Pharmaceuticals and HCL Technologies by acquiring shares worth ₹3,226 crore and ₹2,939 crore, respectively. Other significant additions included Pidilite Industries ( ₹2,234 crore), Coal India ( ₹2,119 crore), NTPC ( ₹1,992 crore), Tata Motors Passenger Vehicles ( ₹1,904 crore), Cipla ( ₹1,686 crore), and Tata Consultancy Services ( ₹1,654 crore).
| Company name | Net buying |
|---|---|
| State Bank of India | ₹5,599 crore |
| Sun Pharmaceuticals | ₹3,226 crore |
| HCL Technologies | ₹2,939 crore |
| Pidilite Industries | ₹2,234 crore |
| Coal India | ₹2,119 crore |
| NTPC | ₹1,992 crore |
| Tata Motors Passenger Vehicles | ₹1,904 crore |
| Tata Consultancy Services | ₹1,654 crore |
LIC reduced its stakes in THESE companies
On the other hand, the insurance giant has also trimmed its stakes in few companies in the September quarter 2025. HDFC Bank witnessed the largest sell-off by LIC, as the insurer trimmed its holdings by ₹3,130 crore.
This was followed in ICICI Bank ( ₹2,338 crore) and Larsen & Toubro ( ₹2,243 crore), Bharti Airtel ( ₹2,205 crore), Mahindra & Mahindra ( ₹2,149 crore), Maruti Suzuki ( ₹2,052 crore), and Kotak Mahindra Bank ( ₹1,994 crore).
| Company name | Net selling |
|---|---|
| HDFC Bank | ₹3,130 crore |
| ICICI Bank | ₹2,338 crore |
| Larsen & Toubro | ₹2,243 crore |
| Bharti Airtel | ₹2,205 crore |
| Mahindra & Mahindra | ₹2,149 crore |
| Maruti Suzuki | ₹2,052 crore |
| Kotak Mahindra Bank | ₹1,994 crore |
New additions
Among the newly added stocks, BSE Ltd led the list, with LIC acquiring 2.28 crore shares worth ₹4,637 crore. The insurer also made substantial investments in Yes Bank ( ₹2,653 crore) and ABB India ( ₹2,424 crore). Other notable new positions included Varun Beverages ( ₹1,982 crore), Shriram Finance ( ₹1,492 crore), and Persistent Systems ( ₹819 crore).
| Company name | Net buying |
|---|---|
| BSE | ₹4,637 crore |
| Yes Bank | ₹2,653 crore |
| ABB India | ₹2,424 crore |
| Varun Beverages | ₹1,982 crore |
| Shriram Finance | ₹1,492 crore |
| Persistent Systems | ₹819 crore |
Despite portfolio reshuffling, LIC’s major investments remain concentrated in India’s leading corporations. Reliance Industries remains its largest holding at ₹1.38 lakh crore, followed by ITC at ₹82,343 crore and Larsen & Toubro at ₹67,878 crore. Other key holdings include SBI ( ₹66,764 crore), Infosys ( ₹64,670 crore), TCS ( ₹60,916 crore), and IDBI Bank ( ₹54,757 crore).
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
