Data from ACE Equity shows that LIC owned at least 260 stocks at the end of the September quarter, out of which its stake declined in at least 84 stocks like Hindustan Copper, Dr. Reddy s Laboratories, HAL, Canara Bank, Tata Motors, NTPC, Pfizer, ICICI Bank and RIL.
Q2 results this week: Major companies like Axis Bank and Tech Mahindra, Bajaj Finserv, Bajaj Holding & Investment, Cipla, Reliance Industries Dr. Reddy s, Maruti Suzuki India, etc will announce their quarterly earnings this week
The market is due for a short term upward pull back in the near term. It has formed a long legged doji formation, which may see trending activity on either side, says Amol Athawale, Vice President - Technical Research, Kotak Securities.
Shares of Kolkata-based smallcap Jai Balaji Industries, which manufactures iron and steel products like TMT bars, are up 475% to top the multibagger list. Similarly, shares of another smallcap GVK Power & Infrastructure are up 300% so far in Q2 following a 50% rally in just two weeks.