LIC, Adani Enterprises, ITC, SBI, Karur, Nykaa: Shares top insurers bought & sold
Union Bank, Maruti Suzuki India, PI Industries Ltd, Karur Vyasa Bank, Data Patterns India, FSN E-Commerce, State Bank of India and Adani Enterprises Ltd were some of the stocks where private life insurers upped exposure in February.
Maruti Suzuki India, Union Bank, PI Industries Ltd, Karur Vyasa Bank, Data Patterns India, FSN E-Commerce, State Bank of India and Adani Enterprises Ltd were some of the stocks where top private life insurers increased exposure in February. Bharat Forge, ZEE Entertainment Enterprises Ltd, BPCL and InterGlobe Aviation Ltd are some of the stocks they cut exposure to, in the month gone by.
Four top private life insurers namely ICICI Pru Life, HDFC Life Tata AIA Life and Kotak Life bought a total Rs 463 crore worth of Maruti Suzuki India shares, with their total holding in the auto maker rising to 19,42,000 shares in February from 15,32,000 shares at the end of January. The four private insurers held a total Rs 2,192 crore worth shares as of February end. In the case of Union Bank, insurers bought Rs 328 crore worth shares. They held 7,14,21,000 shares worth Rs 1,045 crore at February end. Insurers bought 288 crore worth HDFC Bank shares in February. They owned a total Rs 12,693 crore worth HDFC Bank stake.
PI Industries (Rs 214 crore), Karur Vyasa Bank (Rs 183 crore), Data Patterns India (Rs 163 crore), SBI (Rs 151 crore), Nykaa (Rs 117 crore), BSE (Rs 115 crore), Adani Enterprises (Rs 107 crore), IDFC First Bank (Rs 100 crore) and (Rs 98 crore), a Nuvama study suggests.
Bharat Forge topped stocks that private life insurers sold in February. The stock saw Rs 286 crore in net sell. The four insurers held Rs 688 crore worth Bharat Forge shares at February end. Timken India (277 crore), Schaeffler India (Rs 202 crore), Zee Entertainment (Rs 200 crore) and Indian Oil (Rs 192 crore) saw net selling by insurers.
Trent (Rs 188 crore), ITC (Rs 171 crore), Titan Company (Rs 139 crore), Bharat Electronics (Rs 135 crore) and Mahindra & Mahindra (Rs 130 crore) were among other stocks seeing selling by insurers in February.
ICICI Pru Life’s prominent additions were PI Industries (Rs 395 crore), Maruti Suzuki (Rs 393 crore), HDFC Bank (Rs 202 crore). The fund reduced holdings in Hindustan Petroleum (RS 223Cr), Indian Oil (Rs 192 crore), Bharat Petroleum (Rs 169 crore). New entrants included Life Insurance Corp and Juniper Hotels while Apar Industries was a complete exit.
SBI Life’s large additions were ICICI Bank (Rs 628 crore), ONGC (Rs 601 crore), Axis Bank (Rs 493 crore). Its major reductions were Zee Entertainment (Rs 350 crore), AU Small Fin (Rs 225 crore), Maruti Suzuki (Rs 141 crore). Max Healthcare and Ambuja Cements were new entrants, while Zee Entertainment and Navin Fluorine Intl were complete exits.
HDFC Life’s large additions were Karur Vyasa Bank (Rs 183 crore), Union Bank (Rs 156 crore), Juniper Hotels (Rs 41 crore). Its prominent reductions were Schaeffler India (Rs 203 crore), Zee Entertainment (Rs 194 crore), Timken India (Rs 160 crore). New entrants included Juniper Hotels and Cello World while Schaeffler India and Timken India were complete exits.
Tata AIA Life’s major additions were Data Patterns India (Rs 163 crore), HDFC Bank (Rs 155 crore), Dalmia Bharat (Rs 103 crore). The fund reduced holdings in Bharat Forge (RS 151Cr), Page Industries (Rs 131 crore), Delhivery (Rs 124 crore). KIMS and Mazagaon Dock were new entrants, while Page Industries and Delhivery were complete exits.
Kotak Life’s large additions were State Bank of India (Rs 199 crore), Union Bank (Rs 108 crore), Hindustan Petroleum (Rs 96 crore). Its prominent reductions were P I Industries (Rs 145 crore), Bharat Forge (RS 110Cr), Max Fin Services (Rs 101 crore). New entrants included Union Bank and Park Hotels while M&M Fin Services and were complete exits.
LIC sold 3.73 crore shares of these 3 Adani stocks in Q3
Adani Energy Solutions
The December quarter saw LIC reducing stake in Adani Energy Solutions from 3.68% in September quarter to 3% in Q3. During the quarter the stock moved up 42%.
Adani Enterprises
Adani Enterprises, which is the flagship company of the diversified apples-to-airport group, saw LIC ownership going down from 4.23% to 3.93% quarter-on-quarter. The Nifty stock was up almost 29% in Q3.
Adani Ports
LIC also reduced stake in Gautam Adani’s cash cow Adani Ports from 9.07% in Q2 to 7.86% in Q3 as the stock rallied over 46% during the quarter. Adani Ports is also the largest investment of LIC in the group with the stake being valued at over Rs 20,000 crore.
Other Adani stocks
In the last quarter, LIC’s stake in ACC, Adani Green Energy and Adani Total Gas remained unchanged. On a quarterly basis, Adani Green was the best performing Adani stock in LIC’s kitty as it went up over 73% in Q3.
During the quarter, Ambuja Cements saw a small buying of 4,500 shares but the percentage shareholding remains unchanged at 6.29%.
Is the Adani vs Hindenburg issue over?
The rally in Adani Group stocks began well before the Supreme Court ruled out handing over investigation into the Hindenburg issue to CBI, SIT or any other agency from Sebi.
While many investors saw it as a clean chit to the Adani Group, the ball is now in Sebi’s court as its investigation is not yet over. The markets regulator has completed 22 out of the 24 investigations into the allegations levelled against the Adani group. The apex court has now asked the regulator to complete the two pending investigations expeditiously preferably within the next 3 months.
With Thanks Reference to: https://www.businesstoday.in/markets/trending-stocks/story/lic-adani-enterprises-itc-sbi-karur-nykaa-shares-top-insurers-bought-sold-420855-2024-03-11 and https://economictimes.indiatimes.com/markets/stocks/news/lic-sold-3-73-crore-shares-of-these-3-adani-stocks-in-q3/articleshow/106885462.cms?from=mdr
