ITC, L&T, and SBI Lead LIC’s ₹84,247 Crore Portfolio Erosion

Mumbai: India’s equity market correction has significantly impacted Life Insurance Corporation of India (LIC), with its stock holdings declining by ₹84,247 crore (5.7%) in the past one-and-a-half months. As of December 2024, LIC’s listed holdings were valued at ₹14.72 trillion, which has now dropped to ₹13.87 trillion (as of February 18, 2025). 

The decline is driven by major corrections in ITC (₹11,863 crore), Larsen & Toubro (₹6,713 crore), and State Bank of India (₹5,647 crore), accounting for 29% of LIC’s total value erosion. In total, 26 companies have seen LIC’s holdings drop by over ₹1,000 crore each, including TCS, Jio Financial Services, HDFC Bank, and Adani Ports. Financials led the decline (₹18,385 crore), followed by IT (₹8,981 crore), infrastructure (₹8,313 crore), and power (₹7,193 crore). 

Despite this, stocks like Bajaj Finance, Maruti Suzuki, Bharti Airtel, and JSW Steel added ₹1,000-₹3,000 crore each. Analysts foresee continued market volatility, with HSBC citing weak earnings and slow growth. FIIs are shifting to US assets due to rising bond yields. Emkay Institutional Equities predicts Nifty at 25,000 by December 2025, with FPI outflows easing by Q2-CY25.