3 large cap stocks where LIC sold stake in Q2

LIC sold 43.20 lakh shares of Maruti Suzuki during the July to September 2022 quarter.

• LIC of India sold stake in stocks like Maruti Suzuki, Power Grid Corporation, Sun Pharma, Hindustan Aeronautics, Hindustan Unilever Limited etc.

Life Insurance Corporation of India (LIC) has sold a good number of shares during the July to September 2022 quarter. Maruti Suzuki, Power Grid Corporation, Sun Pharma, Hindustan Aeronautics, Hindustan Unilever Ltd., etc. are some of the major stocks in which Indian stock market's largest domestic institutional investor made profits during Q2FY23.

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

1] Maruti Suzuki: In Q1FY23, LIC held 1,46,87,166 Maruti Suzuki shares, which constituted 4.86 per cent of the total paid-up capital of the large-cap auto company. However, in Q2FY23 shareholding pattern of Maruti Suzuki Limited, LIC's shareholding in Maruti Suzuki decreased to 1,03,66,455 shares or 3.43 per cent of the total paid-up capital of the company. This means that LIC sold 43.20 lakh shares of Maruti Suzuki during the July to September 2022 quarter.

2] Power Grid Corporation of India: The shareholding pattern of Power Grid Corporation of India Limited during April to June 2022, LIC held 34,83,35,549 shares, which was 4.99 per cent of the total paid-up capital of the PSU. However, in the July to September 2022 shareholding pattern of Power Grid Corporation of India Limited, LIC's shareholding came down to 23,68,59,959 shares or 3.40 per cent stake in the company. This means, LIC of India diluted stake in this PSU by selling 11,14,75,590 Power Grid shares or 1.59 per cent stake of the PSU during Q2 FY2023.


3] Sun Pharmaceutical Industries or Sun Pharma: As per the shareholding pattern of Sun Pharmaceutical Industries Ltd for the September 2022 quarter, LIC of India holds 10,51,66,136 shares of Sun Pharma or 4.38 per cent stake in the company. However, in the April to June 2022 shareholding pattern of Sun Pharmaceutical Industries Ltd, the Indian insurer held 13,16,69,295 shares or 5.49 per cent stake in the company. This means, the state-owned insurer sold 2,65,03,159 shares of Sun Pharma during the second quarter of FY2023 to hold 1.11 per cent stake in the company.