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LIC's stock portfolio suffers ₹1.5L crore loss amid market crash
04 Mar 2025

Life Insurance Corporation of India (LIC), India's largest domestic institutional investor, has witnessed a steep fall in its equity portfolio value.

The fall, which is worth ₹1.45 lakh crore, came in the first two months of 2025 amid a wider market crash.

This is among the biggest mark-to-market losses for LIC's varied 310-stock portfolio in its recent history.

Portfolio value drops from ₹14.9L crore to ₹13.4L crore
Market impact

The value of LIC's equity portfolio fell from ₹14.9 lakh crore in December 2024 to ₹13.4 lakh crore by end-February 2025, ET analysis revealed.

The sharp decline is directly attributed to the overall market crash, with small and mid-cap shares witnessing their biggest fall since the COVID-19 pandemic.

Large-cap shares, where LIC has huge investments, have also witnessed massive losses during this period.

Major stocks contribute to portfolio's decline
Stock performance

The fall in LIC's portfolio value has been largely driven by its second-largest equity investment, ITC. The stock fell 18%, leading to a value erosion of about ₹17,000 crore.

Technology giants TCS and Infosys also contributed to the fall with ₹10,509 crore and ₹7,640 crore cuts, respectively.

Other major contributors include SBI (₹8,568 crore loss), ICICI Bank (₹3,179 crore loss), and Jio Financial Services (₹3,546 crore loss).

LIC's portfolio affected by widespread losses across holdings
Investment strategy

LIC holds equity in more than 310 firms with at least 1% stake, leading to massive losses across its portfolio.

The insurer has reported losses of over ₹1,000 crore in at least 35 stock positions this year.

Major holdings include Reliance Industries (₹1,03,727 crore), ITC (₹75,780 crore), Infosys (₹67,055 crore), HDFC Bank (₹62,814 crore), TCS (₹59,857 crore), SBI (₹55,597 crore) and L&T (₹54,215 crore).