SBI and Coal India Among Top 10 Stocks Sold by India's Largest Domestic Institutional Investor in March Quarter

LIC Portfolio Rejig: Insurance Giant Reduces Stake in Several Large-Cap Names

Life Insurance Corporation of India (LIC), the biggest domestic institutional investor, reduced its stake in several prominent large-cap names during the recently concluded March quarter, according to data compiled by primeinfobase.com. The company's share in NSE-listed stocks declined marginally to 3.71% as on March 31, 2026, from 3.72% in value terms, as the Indian stock market witnessed a steep selloff due to the Middle East war that resulted in a steep spike in crude oil prices.

The stocks belonging to the banking and metal & mining space were among the top names wherein LIC reduced its stake the most in terms of value of shares sold. State Bank of India (SBI) topped the chart as LIC sold 4,22,25,994 shares of the PSU lender in the March quarter worth almost ₹4,626 crore. The stock remained rangebound during this period. ICICI Bank was followed as LIC offloaded 2,57,04,000 shares of India's second-biggest private lender, amounting to ₹3,450 crore. HDFC Bank also featured on the list, with LIC selling HDFC Bank stocks worth ₹1,145 crore or a total of 1,32,43,043 shares.

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Another financial stock, Piramal Finance, featured on this list as LIC brought its stake below 1% in the company. It cannot be ascertained if India's biggest DII exited the stock or holds a residual share, as companies are mandated to release the names of only those shareholders that own at least 1% or more. Coal India, Tata Steel, and SAIL were among the names from the metal and mining space that saw serious selling by LIC. Coal India saw the third-highest sales in terms of value as LIC sold 3,26,33,791 shares worth ₹1,431 crore.

On the other hand, value buying was visible by LIC in IT stocks such as TCS, Infosys, and HCL Technologies. All three IT names were on LIC's radar even as they declined 15-25% during the March quarter amid a selloff in the sector due to concerns around AI-led disruptions. LIC bought TCS shares worth ₹2,143 crore, Infosys shares worth ₹1,897 crore, and HCL Technologies shares worth ₹1,399 crore. Auto counters such as Hyundai and Maruti Suzuki were also among the top 10 stocks purchased by LIC in the March quarter. LIC added Hyundai stocks amounting to ₹1,390 crore and Maruti stocks amounting to ₹1,374 crore. Among the top two stocks that saw the highest purchases include Bajaj Finance and Bharti Airtel, with ₹2,167 crore and ₹2,153 crore shares bought, respectively.