LIC reduces stakes in SBI, Coal India during March quarter
after close1 source ↓written by the desknot a recommendation
- of SBI worth
- 4.22 crore shares
- of SBI worth
- ₹4,626 cr
- stocks fell
- 3.71%
Life Insurance Corporation of India (LIC) reduced its stake in several large-cap stocks during the March quarter, with State Bank of India leading the selloff. LIC sold 4.22 crore shares of SBI worth ₹4,626 cr. Other significant reductions included ICICI Bank and Coal India as part of a broader portfolio adjustment amid market volatility caused by rising crude oil prices. 📉
• LIC's share in NSE-listed stocks fell to 3.71%
• Banking and metal & mining sectors were most affected
This move may impact investor sentiment in these sectors.
Not investment advice. For informational purposes only.