ICICI Prudential Life, HDFC Life, Tata AIA, and Kotak Life adjust portfolios

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ICICI Prudential Life, HDFC Life, Tata AIA, and Kotak Life adjust portfolios
Credit: © Reuters.

In a notable shift of investment strategy in October, four major Indian life insurance companies - ICICI Prudential Life, HDFC Life, Tata AIA Life Insurance, and Kotak Life Insurance - made significant adjustments to their portfolios. The firms increased their stakes in a range of companies including HDFC Bank (NS: HDBK ), DMart, Navin Fluorine, Kansai Nerolac Paints (NS: KANE ), IndusInd Bank (NS: INBK ), Astra Microwave, Page Industries (NS: PAGE ), and Cholamandalam (NS: CHLA ) Finance.

The insurers bought 9,21,97,000 shares in HDFC Bank and 34,12,000 shares in DMart. Additionally, they invested Rs 208 crore ($28 million) in Navin Fluorine and Rs 160 crore ($21.5 million) in Kansai Nerolac Paints. Investments of Rs 151 crore ($20.3 million) were also made in IndusInd Bank.

Other companies that saw an increase in investments from these insurers include Tata Motors (NS: TAMO ) (NYSE: TTM ), Dabur India (NS: DABU ), and Dixon Tech. The insurers also invested in Larsen & Toubro (NS: LART ) and CDSL (NS: CENA ).

However, the portfolio adjustments weren't limited to purchases. The insurance companies also reduced their stakes in several firms. They sold off Rs 353 crore ($47.6 million) worth of ITC Ltd (NS: ITC ) shares and Rs 196 crore ($26.4 million) worth of KEI Industries shares. Other companies that saw a reduction in stakes include Britannia Industries (NS: BRIT ) Ltd, Hindustan Unilever (LON: ULVR ) Ltd, Kotak Mahindra Bank (NS: KTKM ), Mahindra & Mahindra, and Persistent Systems (NS: PERS ).

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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  • kailas khandelwal @kailas khandelwal
    this is the useful information by both way.
    Like 1

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