LIC the smartest investor ?

-

Fund managers and FIIs might be liquidating banking stocks but one smart investor is making use of the low prices and using the opportunity to its advantage. Life Insurance Corporation of India (LIC) which is a big ticket institutional investor in the Indian stock markets, over the last few days, was seen hiking its stake in two banks.

 

First was State Bank of India, where through open market purchase, LIC acquired additional 1.34 crore shares of the bank for Rs 1,484.12 crore. This buying was done between November 2008 and March 2, 2009. Post acquisition, LIC's stake in SBI now stands at 9.16%.

The other bank is Indian Overseas Bank. LIC has hiked in this bank to 9.96% after purchasing additional shares worth Rs 57.65 crore through open-market transaction. These shares were purchased between February 19 and March 3, 2009. 

Then LIC has hiked its stake in HDFC Bank to 7.105% and in ICICI Bank to 9.38%. It also hiked its stake in PNB to 10%. Prior to these open market purchases, LIC hiked its stake in GAIL to 10.10%. It also hiked its stake in Cummins India to 7.6% via open market purchases.

Apart from all these, LIC holds more than 10% stake in M&M (17.61%), ACC (17.48%), L&T (17.38%), Maruti (14.36%), Reliance Infra (12.99%), Tata Motors (10.27%), Tata Power (11.44%) and Tata Steel (11.56%). And it also reduced its stake in Hindalco, Hindustan Unilever, ITC and Ranbaxy.

 

So who is the smartest investor of all?

Popular posts from this blog

IOB capitalises on hike in stake by LIC

-
Indian Overseas Bank rose 1.53% to Rs 46.45 at 10:31 IST on BSE, after the biggest domestic instutional investors Life Insurance Corporation of India hiked its stake in the state-run bank. The bank made this announcement after trading hours on Wednesday, 25 March 2009. Meanwhile, the BSE Sensex was up 126.19 points, or 1.31%, to 9,794.09. On BSE, 31,003 shares were traded in the counter. The stock had an average daily volume of 1.93 lakh shares in the past one quarter. The stock hit a high of Rs 47 and a low of Rs 45.95 so far during the day. The stock hit a 52-week high of Rs 156.80 on 2 May 2008 and a 52-week low of Rs 37.55 on 9 March 2009. The mid-cap bank stock had underperformed the market over the past one month till 25 March 2009, falling 3.17% as compared to the Sensex's 8.60% rise. It had also underperformed the market in the past one quarter, declining 33.94% as compared to the Sensex's 1.04% rise. The bank's current equ The current price of
Read more
-
https://economictimes.indiatimes.com/markets/stocks/news/companies-trading-at-values-cheaper-than-assets-and-still-have-no-takers/articleshow/71471784.cms
Read more