LIC Shifts Strategy: Bets Big on IT, Trims Bank Holdings in Rs 17.5 Lakh Cr Portfolio

• LIC is making a contrarian bet, investing heavily in India's struggling IT sector while other investors exit.
• The insurer purchased an estimated Rs 3,136 crore in TCS and Rs 2,293 crore in HCL Technologies, adding Coforge to its portfolio.
• LIC significantly offloaded financial services stocks, including Rs 3,080 crore in SBI and Rs 1,528 crore in HDFC Bank.
• Industrial and metals exposure was also reduced, with sales in L&T, Reliance Industries, Hindalco, and Vedanta.
• The move reflects LIC's confidence that AI-driven fears have made IT valuations attractive, wagering on a temporary margin squeeze rather than a permanent undermining of the sector.