Life insurers chase autos, new-age stocks in May

India's top five life insurers selectively rebalanced equity portfolios in May, adding autos, airports, consumer and new-age stocks while trimming select banks, capital-goods and power names. Mahindra & Mahindra was the top purchase at ₹462 crore, followed by GMR Airports (₹428 crore), LG Electronics (₹277 crore) and Lenskart (₹242 crore); HDFC Bank remained the largest overall holding at ₹26,714 crore. Varun Beverages saw the biggest net selling (₹396 crore), with HDFC Bank second (₹334 crore), reflecting profit-taking in some over-owned names rather than a wholesale sector rotation.