Major private life insurers made significant shifts in their equity portfolios during May, according to data compiled by Nuvama. The analysis, covering ICICI Prudential Life, HDFC Life, Tata AIA Life, and Kotak Life, reveals distinct buying and selling trends across various scrips.
Top Buys by Private Insurers
Mahindra & Mahindra (M&M) emerged as the top buy for these four insurers in May, with combined purchases totaling Rs 462 crore. This increased their total holding in M&M to Rs 3,908 crore. GMR Airports also saw substantial buying, with insurers acquiring an additional Rs 428 crore worth of shares, bringing their total stake to Rs 638 crore.
Other notable additions to their portfolios included LG Electronics, with Rs 277 crore in purchases, and Lenskart, which saw Rs 242 crore worth of buying. Hindustan Unilever Ltd (HUL) attracted Rs 213 crore, Hindustan Petroleum Corporation Ltd (HPCL) Rs 196 crore, Tata Consultancy Services Ltd (TCS) Rs 184 crore, and Pine Labs Rs 144 crore.
In the energy sector, CG Power recorded Rs 140 crore in insurer buying, while Premier Energies saw purchases amounting to Rs 133 crore.
Key Stocks on the Sell Radar
On the selling side, Varun Beverages Ltd (VBL) topped the list, with insurers offloading a combined Rs 396 crore worth of shares, reducing their total holding to Rs 878 crore. HDFC Bank Ltd also faced significant selling pressure, with Rs 334 crore in shares divested, trimming total holdings to Rs 11,637 crore.
Bharat Heavy Electricals Ltd (BHEL) saw Rs 278 crore worth of selling, leaving insurers with Rs 877 crore in holdings. Tata Power Company Ltd experienced Rs 260 crore in sales. Additionally, Divis Labs, Tata Motors Passenger Vehicles Ltd (Tata Motors PV), Jubilant Food, and Timken India all saw selling activity in the Rs 170-199 crore range.
These movements highlight the strategic adjustments made by top private life insurers in response to market conditions and their investment outlook for various sectors.