Hit by bluechip sell-off! LIC loses Rs 66,000 crore in July market rout as RIL, TCS, Axis Bank plunge; top holdings drag portfolio 4.15% lower
The selloff, which battered marquee names like Reliance Industries, TCS, Axis Bank and HCL Technologies, slashed LIC's portfolio value by 4.15%, from Rs 15.94 lakh crore in June 2025 to Rs 15.28 lakh crore last month.
LIC, India's largest institutional investor, felt the heat across key sectors as stock after stock turned red, underlining how even heavyweight portfolios are not immune to sharp market headwinds. The figures are based on LIC's declared June shareholding, with July-end estimates subject to changes from any fresh trades during the period, according to an ET report.
The largest blow came from Reliance Industries, LIC's top holding, which wiped out Rs 10,146 crore in value as its shares declined 7.35%, according to data from ACE Equity. Tata Consultancy Services followed, eroding Rs 7,457 crore, after a sharp 12.24% fall.
The broader IT pack deepened the pain: HCL Technologies and Infosys lost Rs 3,751 crore and Rs 3,744 crore, respectively, while Tech Mahindra fell Rs 2,253 crore.
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LIC's financial holdings weren't spared either. Its 49.24% stake in IDBI Bank saw a value erosion of Rs 5,707 crore. Axis Bank and Kotak Mahindra Bank also inflicted heavy damage, down Rs 3,200 crore and Rs 2,531 crore, respectively.
In all, the top 10 decliners alone accounted for over Rs 38,000 crore in losses, showing how concentrated the pain was at the top.
Even mid-sized and smaller stocks saw significant percentage-wise destruction.
Indian Energy Exchange (IEX) was the worst performer, with LIC's holding tumbling nearly 30%. Reliance Power sank 24.72%, followed by Bharat Dynamics (-16.73%), SBI Cards (-15.01%), and Mazagon Dock Shipbuilders (-14.54%), revealing a sector-agnostic slide.
Amid the gloom, some counters did deliver gains. ICICI Bank added Rs 1,324 crore to LIC's portfolio, while Patanjali Foods rose 14%, boosting value by Rs 768 crore. HDFC Bank added Rs 615 crore, and JSW Steel, Maruti Suzuki, and Ambuja Cements chipped in Rs 422 crore, Rs 365 crore, and Rs 250 crore, respectively.
However, these bright spots were too scattered and modest to offset the broader carnage.
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