New Delhi: India’s largest institutional investor, LIC (Life Insurance Corporation), suffered a loss of Rs 66,000 crore in the month of July. This loss came not from unknown firms but from some of the biggest blue-chip companies in the country, including Mukesh Ambani’s Reliance Industries, Tata Group’s flagship TCS, Axis Bank, HCL Technologies, Infosys, Kotak Mahindra Bank, and IDBI Bank.
However, in sharp contrast, Patanjali Foods, one of India’s leading FMCG companies, emerged as a rare winner for LIC, helping it earn a significant return in a month dominated by market decline. While major blue-chip companies dragged LIC’s portfolio down, Patanjali turned out to be a profitable bet.
Patanjali’s gains for LIC
Although Patanjali didn’t give LIC the highest return in its portfolio, it was among the few stocks that did generate positive returns in July despite market volatility. According to stock market data, Patanjali delivered a 14 per cent return to LIC in July. In monetary terms, this translated to a gain of Rs 768 crore in the value of LIC’s holdings in the company.
Apart from Patanjali, ICICI Bank and HDFC Bank also gave positive returns to LIC, while JSW Steel, Maruti Suzuki, and Ambuja Cements also contributed gains.
Patanjali’s market performance
Patanjali Foods’ shares saw a strong surge in July. On the last trading day of June, its stock was priced at Rs 1,650.35. By July 31, it had climbed to Rs 1,882.40, a gain of Rs 232.05 per share.
In terms of market capitalisation, the company’s valuation increased significantly, from Rs 59,826.23 crore on June 30 to Rs 68,238.19 crore by July 31, a rise of Rs 8,411.96 crore in just one month.
Current status of Patanjali shares
As of August 5 (at 12.20pm), Patanjali Foods’ stock was trading at Rs 1,844.05 — down about 1 per cent for the day. It had dropped to an intraday low of Rs 1,839.65. The stock had opened weaker at Rs 1,854.05, compared to Monday’s close of Rs 1,862.60. This indicates that in the first few days of August, the stock has declined by around 2.27 per cent.
