LIC Makes Bold Moves: Big ACC Buy, Strategic NBCC Boost, and a Clear Long-Game Signal

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Life Insurance Corporation of India (LIC) has quietly executed one of its most strategic equity maneuvers of the year, lifting its stake in Adani-backed cement major ACC Ltd beyond the 10% mark. At the same time, the insurer has also expanded its position in PSU player NBCC (India), reinforcing its confidence in the government-backed infrastructure segment.

According to a regulatory filing, LIC purchased an additional 37.82 lakh shares of ACC through open-market transactions, increasing its holding to 1.98 crore shares, or 10.596% of the company’s paid-up capital. This buying activity took place between 20 May 2025 and 25 November 2025, up from the earlier stake of 8.582%. The move signals LIC’s long-term conviction in ACC even as the stock has struggled for traction over the past year.

Alongside the ACC purchase, LIC also added 30.24 lakh shares of NBCC, now holding 12.08 crore shares, which accounts for 4.477% of the company’s voting capital.

Interestingly, the percentage fell compared to its previous 6.548% holding—but only because NBCC’s total voting capital expanded significantly, rising from 180 crore shares to 270 crore shares. LIC clarified that all acquisitions were done strictly via market purchases, with no rights issues, preferential allotments, or off-market transfers involved.

ACC’s stock performance has remained muted, down more than 15% over the past year and currently trading roughly 20% below its 52-week high. NBCC, meanwhile, tells a completely different story. The PSU stock has delivered a remarkable 581% return over five years, gaining steadily across shorter timeframes as well. Today’s session reflected this divergence too—ACC slipped marginally, while NBCC continued its upward trend with a 1% intraday rise.

With these dual moves, LIC appears to be following a balanced strategy: reinforcing its presence in a cyclical sector through ACC while staying anchored in a high-performing, government-driven growth story through NBCC. It’s a clear reminder that India’s largest insurer remains a decisive force across India Inc., quietly shaping outcomes with every well-timed accumulation.