In a notable move during the March quarter, the Life Insurance Corporation of India (LIC) deployed approximately ₹18,500 crore (nearly $2 billion) to purchase shares in several key companies, including Bajaj Finance, Bharti Airtel, and Indian Railway Finance Corporation (IRFC), despite these stocks experiencing declines of up to 30%. This strategic investment reflects LIC's historical approach of capitalizing on market downturns to acquire quality assets at lower prices. For instance, LIC bought 2.32 crore shares of Bajaj Finance for about ₹2,167 crore, while also increasing its stake in IRFC by nearly doubling its holdings to 2.54%. Despite this aggressive buying, LIC also trimmed its positions in other stocks, such as State Bank of India and HDFC Bank, indicating a more complex strategy than simple bottom-fishing. Overall, LIC's total holdings in NSE-listed companies fell to ₹15.11 lakh crore, marking a decline of 13.63% from the previous quarter. However, its proportional share of the market increased slightly when measured against free-float shares, suggesting that its investments were strategically timed to take advantage of market weaknesses. The outcome of these investments remains to be seen as the market recovers from its recent lows.