The Indian stock market majorly pleased investors this year, hitting record highs nearly every month. In 2023, the biggest investment bull of the country – Life Insurance Corporation (LIC) of India – has raked in a profit of ₹2.3 lakh crore through strategic stock investments.
Through its intricate portfolio, LIC gained a profit of ₹2.28 lakh crore. The life insurance giant is currently invested in 260 listed companies on the stock market, and saw its own market value increase from ₹9.61 lakh crore to ₹11.89 lakh crore, showed data from Ace Equity.
The record high of Nifty and Sensex contributed majorly towards the year-end profits of LIC, with Nifty 50 giving 18 percent returns on year to date basis. On December 27, Nifty crossed the 21,600 points mark through various multibagger stocks.
For LIC, 40 out of the total Nifty 50 stocks has given the firm nearly 86 percent returns, reported The Economic Times. These returns have pushed up the profits of LIC in the year of 2023 massively.
Life Insurance Corporation of India had five major company stocks to thank for its ₹2.3 lakh crore profits – Coal India, Larsen & Toubro, Bajaj Auto, Tata Motors, and NTPC.
LIC’s multibagger portfolio
The top company which contributed towards the massive gain if LIC’s profit this year was Larson & Toubro (L&T), with the market valuation of the company going from ₹36,165 crore to ₹52,786 crore in just one year.
Meanwhile Coal India and NTPC both saw as estimated growth of ₹9000 crore and ₹2000 crore in market value, respectively. The valuation of Tata Motors nearly doubled from 2022 to 2023, touching ₹13,519 crore in December this year.
The fifth, sixth and sevent spot in LIC mutlibaggers was Adani Ports, Suzlon Energy and Bharat Heavy Electricals.
The top stock that contributed towards the wealth of LIC was NTPC, with the holdings of the insurance firm in the company seeing an increase of ₹2,400 crore in 2023. The second stock to fill crores of profits into LIC’s banks was Coal India, with Larson and Toubro securing the third spot.
