LIC Bets Big in Q4: IRFC, Asian Paints, Patanjali Among Top 15 Stock Picks

India's largest institutional investor, Life Insurance Corporation of India (LIC), made strategic moves in the stock market during the March quarter of FY25, investing nearly Rs 15,500 crore across 15 key stocks. This substantial bet appears to be paying off, with 10 of these stocks delivering positive returns in the current financial year FY26.

Top Stock Bets by LIC in Q4 FY25
According to estimates by Kotak Institutional Equities, Patanjali Foods emerged as LIC's largest investment during the quarter, with Rs 1,626 crore worth of shares purchased. LIC increased its stake in the FMCG company from 5.2 percent to 7.7 percent. Despite this show of confidence, Patanjali’s share price has declined by nearly 7 percent in FY26 so far.

Other significant investments included CESC, Tata Chemicals, KPIT Technologies, and Jindal Stainless. LIC raised its stake in these companies by 1.2 percent to 1.8 percent. Each of these stocks has rewarded LIC’s bet, gaining up to 15 percent this fiscal year.

Among public sector undertakings, LIC increased holdings in NHPC, Indian Railway Finance Corporation (IRFC), and Punjab National Bank (PNB) by 1.2 percent, 1.1 percent, and 0.8 percent respectively. These PSU stocks have delivered strong performance, with IRFC up 16 percent, PNB rising 13 percent, and NHPC gaining 8 percent in FY26 so far.

LIC Shows Confidence in Beaten-down Asian Paints
In a move that suggests bottom-fishing, LIC also raised its stake in Asian Paints to 8.3 percent from 7.2 percent. The company’s stock has been under pressure, declining 24 percent over the past year and 7 percent in FY26. Reports indicate Reliance Industries may exit its 4.9 percent stake in the company, adding further intrigue to Asian Paints' future.

Other Key Holdings
LIC's portfolio for the March quarter also included large-cap names such as Bajaj Auto, Tata Consumer Products, Britannia Industries, and Havells. The diversified nature of these investments highlights LIC’s continued focus on both growth potential and value opportunities in the Indian stock market.

With the financial year still in its early months, LIC’s bold bets will be closely watched by market participants and retail investors alike.