REC Limited
LIC raised its stake in REC Limited from 3.33% to 5.66%, acquiring 6,15,06,717 shares during the quarter and crossing the 5% disclosure threshold. Prior disclosures accounted for 9,93,000 of these shares.
A Central Public Sector Undertaking under India's Ministry of Power, REC Limited finances projects across the entire power sector value chain, including generation, transmission, and distribution infrastructure. The company provides financial support to state electricity boards, private developers, and renewable energy enterprises nationwide. REC operates as a dedicated infrastructure finance institution supporting India's power sector development and energy transition goals through long-term project financing.
India's largest domestic institutional investor with over Rs 56 lakh crore in total AUM, of which roughly Rs 15 lakh crore sits in listed equities. Holds stakes in virtually every major listed Indian company. When LIC builds or exits a position, it moves markets. Government-owned and mandated to invest policyholder funds in Indian equities and bonds, making it the ultimate long-only, long-term India bull.