These lesser-known stocks are top gainers in the LIC portfolio in FY23
Life Insurance Corporation of India (LIC) is considered as India’s biggest institutional investor. It has a significant investment in almost all major companies listed in the Indian stock markets. Due to high volatility in equity markets during the last financial year most of the stocks have not performed well. However, there are some lesser-known small and mid-cap stocks in the LIC’s portfolio that have outperformed the broader market and gained handsomely. Here is the list of the top gainers in the LIC’s portfolio.
Kirloskar Electric Company is the top performer in the LIC portfolio as the stock surged 160 per cent to Rs 68.14 on 31 March 2023 from Rs 26.15 a year ago. As on December 2022, LIC holds a 1.62 per cent equity stake in Kirloskar Electric. It has a current market capitalization of Rs 452.5 crore.
The Karnataka Bank has given a 146 per cent return in FY23. As share price has increased to Rs 136 from Rs 55.4 in a year. LIC holds 4.67 per cent equity ownership of the bank. Karnataka Bank has an m-cap of Rs 4248 crore.
Standard Industries LIC has a 1.27 per cent stake in this textile manufacturing company. At the current market valuation of Rs 166.5 crore, this stock has surged 115 per cent to Rs 25.9 on 31 March 2023 from Rs 12 a year ago.
Rail Vikas Nigam In this Infrastructure sector PSU, LIC has a 6.38 per cent ownership stake in the quarter that ended December 2022. In the past year, the share price of Rail Vikas Nigam has surged 110 per cent to Rs 68.6 from Rs 32.7. It has a current m-cap of Rs 14303 crore as on 31 March 2023.
UCO Bank This PSU bank has gained 105 per cent in the last financial year. The stock has jumped to Rs 24.38 from Rs 11.87 in FY23. It has a current m-cap of Rs 29,148 crore. LIC has a 1.24 equity stake in this bank.
Some top performers in the LIC’s portfolio are The South Indian Bank (up 94 per cent), Indian Bank (up 87 per cent), Chennai Petroleum (up 86 per cent), Hindustan Aeronautics (up 84 per cent), Bharat Dynamics (up 81 per cent) and The Phosphate Company (up 80 per cent) during the FY23.
