India’s largest domestic institutional investor Life Insurance Corporation (LIC) of India bought an estimated Rs 16,578 crore worth of shares across its 10 biggest stock additions in the June quarter, led by Bharti Airtel, Maruti Suzuki and ITC. Yet the aggressive deployment failed to prevent LIC’s share of the NSE-listed equity market from falling to an all-time low, underscoring how rapidly the broader market expanded around India’s largest single asset manager.
Bharti Airtel attracted LIC’s highest buying during the quarter at an estimated Rs 2,721 crore. LIC increased its holding in the telecom company by nearly 1.47 crore shares to 25.82 crore shares as of June 30, according to data from PRIME Database.
