NEW DELHI: Life Insurance Corporation of India (LIC), country’s largest institutional investor, has pumped in Rs 29,000 crore in equity markets in the ongoing financial year so far, according to a report by ET Now.
Investments of LIC in equities to be around Rs 50,000 crore in FY18, according to sources.
LIC also expected to surpass Rs 20,000 crore profits booked in last fiscal.
Some of the top stocks in LIC’s portfolio include Corporation BankBSE -1.32 %, Larsen & Toubro, ITCBSE 0.17 %, National AluminiumBSE 0.20 %, IDBI BankBSE 0.28 %, Allahabad BankBSE 0.15 %, SCI and Central Bank.
Since the beginning of the ongoing financial year, the BSE Sensex has gained 20 per cent to 31,922.44 on September 22. The index was at 26,595.45 on January 2.
The 30-share index was down 282 points, or 0.88 per cent, at 31640 in the morning trade on September 25.
