Infosys, State Bank of India (SBI), Swan Energy, HDFC Bank, Dixon Technologies and Indus Towers are some of the top stocks traded on the BSE and NSE that were added by top insurance players in India in April 2024, suggests a recent note by Nuvama.

Indian life insurance industry, excluding LIC of India, Nuvama said, commands an impressive aggregate equity assets under management (AUM) of nearly Rs 4.5 trillion. Nuvama Alternative’s Insurance Portfolio Analyzer offers monthly insights into the top five players, collectively representing almost 80 per cent of the AUM.

The Nifty50 index, meanwhile, had surged 1.2 per cent in April to 22,604 levels. The gains in the Nifty Midcap 150, Nifty Smallcap 250 and Nifty Microcap 250 were better in April, and these indexes outperformed the benchmark Nifty50 by rising 7.05 per cent, 6.34 per cent and 10.5 per cent and 10.6 per cent respectively, data shows.

Here are top stocks life insurance companies bought and sold in April 2024:

SBI Life‘s large additions were Lupin (Rs 359 crore), Swan Energy (Rs 335 crore), Krishna Institute of Med Sci. (Rs 266 crore). Its major reductions were Tata Motors (Rs 241 crore), Reliance Industries (Rs 224 crore), HDFC Life (Rs 178 crore). Lupin and Krishna Institute of Med Sci. were new entrants, while Bata India and Honasa Consumer were complete exits. SBI Life, Nuvama said, reports its portfolio with a lag; hence, these top buys and sells pertain to February 2024.

HDFC Life‘s top stock buys in April 2024 were Dixon Tech (Rs 350 crore), BSE (Rs 244 crore), Schaeffler India (Rs 198 crore). Its prominent reductions were Trent (Rs 446 crore), REC (Rs 443 crore), IndusInd Bank (Rs 268 crore). New entrants included Schaeffler India and Bharti Hexacom while Escorts Kubota and Motherson Sumi Wiring were complete exits.

Tata AIA Life‘s top stock buys in April 2024 were HDFC Bank (Rs 295 crore), Exide Inds (Rs 283 crore), Axis Bank (Rs 256 crore). The fund reduced holdings in BSE (Rs 756 crore), Jindal Steel (Rs 249 crore), Persistent Systems (Rs 201 crore). Exide Inds and Aurobindo Pharma were new entrants, while BSE and Jindal Steel were complete exits.

Kotak Life’s top stock buys in April 2024 were Bharti Airtel (Rs 132 crore), Mahindra & Mahindra (Rs 127 crore), Indus Towers (Rs 107 crore). Its prominent reductions were Tata Motors (Rs 154 crore), LTIMindtree (Rs 136 crore), Sun Pharma (Rs 106 crore). New entrants included Indus Towers and GAIL, while Vedant Fashion and Aavas Financiers were complete exits.

First Published: May 08 2024 | 7:30 PM IST