The country’s biggest institutional investor Life Insurance Corporation of India (LIC) is known to hold high stakes in Indian companies. Every quarter, the insurer publishes the list of stocks in which it has either increased or decreased its holdings.
Here are 3 stocks bought by Life Insurance Corporation of India in Q3:
Coforge Limited
Coforge is a global digital services and solutions provider that leads with its product engineering approach and leverages Cloud, Data, Integration, and Automation technologies. It has a presence in 21 countries with 25 delivery centres across nine countries.
LIC has bought an additional 35,105 shares of the company taking the total holding to 30,73,908 Equity Shares up from 30,38,803 shares. It now holds a 5.033 percent stake in Coforge, up from 4.976%.
On Monday, the shares of the company ended 3.5 percent higher at Rs 4,340 levels. In the past five days, the stock has gained 7 percent and in the past six months, it has added 15 percent.
Info Edge (India) Limited
Info Edge is India’s premier online classified company with a portfolio of brands that owns various brands in different fields like naukri.com, 99acres.com, jeevansathi.com as well as shiksha.com.
The state insurer added 26,000 shares of the company taking its total holding to 64,69,921 shares or 5.008 percent stake, up from 64,43,921 shares or 4.988 percent.
On Monday, the company’s shares closed marginally higher at Rs 3,515 levels. The stock has increased by 2 percent in the last five days however declined by 17 percent in the last six months.
GAIL (India) Limited
Maharatna GAIL (India) Limited has a variety of operations in trading, transmission, LPG production and transmission, LNG regasification, petrochemicals, city gas, E&P, and other areas of the natural gas value chain. It is the largest natural gas firm in India.
Life Insurance corporation picked 13.27 lakh shares of the company taking its total shareholding from 31.6 lakhs shares or 4.815 percent to the current 44.92 lakhs shares or 6.833 percent stake.
The shares of the PSU ended Monday’s session in the red at Rs 95 levels. In the past month, the stock has declined by 7 percent however in the period of six months, it has added 11 percent.
Written by Anoushka Roy
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