Year-ender 2023: LIC rakes in Rs 2.3 lakh crore profit amid D-St's bull run! Here are the big movers
Life Insurance Corporation of India rake in a massive profit of Rs 2.28 lakh crore in its portfolio.
LIC, which is invested in about 260 listed companies in India, saw the market value of its overall holdings surge to Rs 11.89 lakh crore from Rs 9.61 lakh crore in December last year, data by Ace Equity showed.
The market value has been calculated based on the shareholding of LIC as of September end and the current market price of the stocks.
The Nifty 50 has given 18% returns on a year-to-date basis. But from its 52-week low touched in March this year, the index has rallied more than 28% to scale a lifetime high of 21593 points in this month.
LIC’s Nifty 50 portfolio alone has given the domestic institutional investor handsome returns this year.
Of the 50 Nifty stocks, 40 stocks have given double-digit returns of upto 86% in 2023 so far.
The top five performers are Coal India, Larsen & Toubro, Bajaj Auto, Tata Motors, and NTPC.
NTPC
The market value of LIC’s holding in NTPC increased by over Rs 2,400 crore in a year, led by the 86% rally in the shares of the state-owned power producer. NTPC was among the top-performing stocks in the public sector space this year and the stock scaled a lifetime high in December.
Coal India
This was another top performer in the PSU space this year, clocking in nearly 63% gains.
Thanks to this sharp appreciation, the market value of LIC’s holding in the world’s largest coal producer increased by 58% in a year to Rs 24,087 crore.
Larsen & Toubro
The third stock that filled crores of rupees into LIC’s pocket was engineering behemoth L&T. Aided by the strong order inflows amid increased government capex on infrastructure and healthy execution, shares of L&T rallied more than 67% in
