LIC will invest 1.30 lakh crore in the market, has invested Rs 38,000 crore so far in the financial year 2024-25
LIC: LIC Managing Director (MD) and CEO Siddharth Mohanty said on Sunday, that the corporation has earned a profit of 15,500 crore in the first quarter from investing in the stock market. It is 13.5 percent higher on a quarterly basis.
Life Insurance Corporation of India (LIC) will invest Rs 1.30 lakh crore in the stock market in the current financial year. So far it has invested 38,000 crore. It was Rs 23,000 crore in the same period a year ago.
LIC Managing Director (MD) and CEO Siddharth Mohanty said on Sunday, that the corporation has earned a profit of 15,500 crore in the first quarter from investing in the stock market. It is 13.5 percent higher on a quarterly basis. We are definitely keeping an eye on the fluctuations in the markets and prices. We want to invest at least as much as Rs 1.32 lakh crore of last financial year. The value of LIC's investment in the market was Rs 15 lakh crore till the end of the June quarter. It has investments in a total of 282 companies. Its asset under management till the June quarter was Rs 53.58 lakh crore, which was Rs 46.11 lakh crore till the same quarter a year ago.
LIC's total investment has been close to Rs 43 lakh crore in March 2023. In March this year, it increased by Rs 7.30 lakh crore to more than Rs 49.75 lakh crore. Investment in equity has been Rs 12.39 lakh crore, which was Rs 8.39 lakh crore a year ago. Other investments have been Rs 37.35 lakh crore, which was Rs 34.05 lakh crore a year ago. On the other hand, LIC's total premium increased to Rs 1.14 lakh crore in the June quarter.
