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LIC’s $128 Billion Stock Portfolio Can Withstand Rising Rates

  • Financials, energy stocks make up core of LIC’s portfolio
  • Large caps account for more than 75% of LIC’s exposure
A pedestrian passes a Life Insurance Corp. of India branch office in Mumbai, India,.

A pedestrian passes a Life Insurance Corp. of India branch office in Mumbai, India,.

Photographer: Dhiraj Singh/Bloomberg

Life Insurance Corp. of India will withstand the global shift toward higher interest rates because its $128 billion stock portfolio is dominated by larger companies in sectors such as financials and energy, an analysis by Bloomberg Intelligence shows.

LIC, set for nation’s biggest ever initial share sale in Mumbai, has a portfolio peppered with index heavyweights such as Reliance Industries Ltd. and ITC Ltd. The assets comprise almost 3.6% of India’s market capitalization, according to analysts Kumar Gautam and Nitin Chanduka.