Mumbai: Life Insurance Corporation(LIC) plans to invest R45,000 crore of its total investment kitty of R2.15 lakh crore in the stock markets this year. LIC has already invested R5000 crore since April.
DK Mehrotra,acting chairman of India’s biggest insurance company says, “Existing regulations stipulate that 50% of the funds have to be deployed in government securities. That apart, we will invest around R45,000 crore in equities, slightly more than the R43,000 crore that we had put in last year.” Mehrotra says LIC booked a profit of close to R17,000 crore during 2010-11 by selling stocks. The corporation, which invested around R1,83,000 crore in 2010-11 in other securities earned income to the tune of R90,000 crore. “We believe the market, after experiencing some volatility, could be stabilising and despite high inflation and rising interest rates, we could add to our portfolio if there is an opportunity,”
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