TW Newsdesk, Jul 26: The country’s biggest institutional investor, Life Insurance Corporation of India (LIC) was on a shopping spree in the June quarter. In June the benchmark equity index BSE Sensex had declined over 9 per cent due to uncertainty regarding inflation and outflows by foreign institutional investors.
Data available with corporate database Ace Equity showed that the insurance behemoth had raised its stake for at least 78 companies in the BSE 500 index during the quarter.
LIC had raised a stake in companies from across the sectors. It had increased holding in consumer durables firm Voltas to 6.57 per cent for the June quarter from 4.71 per cent during the preceding quarter ended March 31.