Life Insurance Corporation of India has booked a mark to market gain of ₹21,000 crore in just 35 days by investing in three major IT stocks during a period of panic over artificial intelligence. While many investors feared that generative AI would disrupt India’s outsourcing model, LIC increased its holdings in Infosys, TCS and HCL Technologies.
The insurer bought nearly 60 lakh shares of Infosys, 47 lakh shares of HCL Tech and 1.45 lakh shares of TCS in the June quarter. This bold move lifted the value of its IT portfolio from ₹1.05 lakh crore to ₹1.26 lakh crore. Infosys contributed ₹7,213 crore, TCS added ₹8,306 crore and HCL Tech brought in ₹5,513 crore to the total gain.
Infosys and TCS are among LIC’s top ten listed equity investments, making this rebound especially important. The Nifty IT index has surged 19% since June, reversing earlier pessimism. Analysts believe the rally is largely valuation driven, with excessive fears about AI disruption now fading.
LIC’s strategy of buying when others were selling has once again highlighted its ability to spot opportunity in market panic and strengthen its long term portfolio. The gain of ₹21,000 crore represents nearly 20% growth in value within just over a month.