LIC’s portfolio falls by over ₹84,000 crore amid stock market correction

The total value of LIC's holdings in listed companies as of December 2024 stood at ₹14.72 trillion, while the current value of the holdings (as of February 18, 2025) stands at ₹13.87 trillion, down by ₹84,247 crore, or 5.7%, the report said. The study is based on 330 companies in which LIC has over 1% stake in the October-December quarter, it said. It added that these companies accounted for 66% of the total market cap of all BSE-listed companies.

What led to the fall?

A big part of the fall can be attributed to the correction seen in ITC, L&T and SBI stocks, coming to over 10% so far in CY25. These stocks (ITC: ₹11,863 crore, Larsen & Toubro: ₹6,713 crore and State Bank of India: ₹5,647 crore) accounted for 29% of the fall seen in LIC’s value.

LIC has experienced market value erosion of ₹1,000 crore across a total of 26 companies. Its value in Tata Consultancy Services (TCS), Jio Financial Services, HCL Technologies, JSW Energy, Adani Ports and Special Economic Zone, HDFC Bank and IDBI Bank has fallen down by ₹2,000 to ₹4,000 crore, the report stated. Non-banking financial companies (NBFCs) and insurance companies were the ‘top value destroyers’, making up for 22% (₹18,385 crore) of the loss in the insurer’s portfolio, the Business Standard report added.

Moreover, shares of companies including Bajaj Finance, Maruti Suzuki India, Kotak Mahindra Bank, Bharti Airtel and Bajaj Finserv, among others, ended up defying the broader trend and added between ₹1,000 to ₹3,000 crore to LIC’s value.