LIC Adjusts Portfolio: Boosts Stakes in Banks, Pharma, and IT, Reduces Holdings in Metals and FMCG

Imagine LIC is a giant piggy bank for many people's savings in India, and it invests that money in different companies.

During the last three months, LIC looked at all the companies it has invested in and decided to make some changes.

It bought more shares in some companies it already owned, especially in banks like Yes Bank, and medicine companies like Dr. Reddy's.

It also bought more shares in IT companies like Tata Elxsi.

At the same time, LIC sold some of its shares in other companies, like the metal company Vedanta and the food company Marico.

It also sold a lot of its shares in companies like NMDC and Apollo Hospitals, owning less than 1% of them now.

This means LIC is shifting its money around, perhaps believing the banks and medicine companies will do better in the future.