LIC's Equity Portfolio Takes a Hit

A significant market correction in July has led to a staggering loss of Rs 66,000 crore for Life Insurance Corporation of India (LIC), with major bluechips like Reliance Industries, TCS, and Axis Bank experiencing sharp declines. This sell-off reduced LIC's portfolio value by 4.15%, from Rs 15.94 lakh crore in June 2025 to Rs 15.28 lakh crore last month.

The Biggest Losers in LIC's Portfolio

Reliance Industries, LIC's top holding, suffered the most with a loss of Rs 10,146 crore as its shares fell by 7.35%. Tata Consultancy Services followed, eroding Rs 7,457 crore after a 12.24% drop. The IT sector added to the pain, with HCL Technologies and Infosys losing Rs 3,751 crore and Rs 3,744 crore, respectively.

Financial Holdings Not Spared

LIC's stake in IDBI Bank saw a value erosion of Rs 5,707 crore, while Axis Bank and Kotak Mahindra Bank also inflicted heavy damages, down Rs 3,200 crore and Rs 2,531 crore, respectively. The top 10 decliners alone accounted for over Rs 38,000 crore in losses.

Bright Spots Amid the Gloom

Despite the widespread losses, some counters like ICICI Bank, Patanjali Foods, and HDFC Bank delivered gains, adding Rs 1,324 crore, Rs 768 crore, and Rs 615 crore to LIC's portfolio, respectively. However, these gains were insufficient to offset the broader market carnage.