Life Insurance Corporation, one of the biggest domestic investor in the stock markets has cut exposure in select stocks in the first quarter of calendar year 2013, even as foreign funds made huge purchases. Here are a few stocks in which LIC's exposure stands reduced.
Ever since the company put in a spectacular Q3 FY 2013 performance the Infosys stock has risen and even surged passed the Rs 3000 lark. However, LIC has cut a stake in the company and sold shares to the tune of 80 lakhs in the company during the first quarter of 2013.
A banking favourite, the HDFC Bank stock has come in for some selling pressure following the Cobrapost allegation on money laundering. LIC Has sold 40 lakh shares in the company thereby cutting its exposure in the first quarter of 2013, ending March 31.
The Hindustan Lever stock has fallen following its Q3 numbers and increase in royalty to its parent company. LIC has cut its exposure in the company by 1.3 crore shares in the first quarter of calendar year 2013.
Bank of Baroda
LIC has sold shares worth 20 lakh in PSU banking major Bank of Baroda, even as fears of non performing assets of public sector banks mount.