CORPORATE
LIC lines up Rs 1.30 lakh crore of investments in stock market in FY25
- IBJ Bureau
- Aug 12, 2024
Life Insurance Corporation of India (LIC) MD and CEO Siddhartha Mohanty has said that the corporation is looking to make fresh investments of around Rs 1.30 lakh crore in equities during the current financial year.
During April-June FY25, the insurance behemoth has made an investment of about Rs 38,000 crore in shares as against Rs 23,300 crore in the same period a year ago.
LIC has earned a profit of Rs 15,500 crore from its investments in equity markets during the first quarter. The profit from its investment was higher by 13.5 per cent quarter-on-quarter.
“We are surely looking at the markets and price movements...we are looking to invest a good amount at least whatever we had invested in last financial year...LIC made an investment of around Rs 1.32 trillion in FY24,” the LIC chief has said.
Market value of LIC’s investment in stocks of various companies stood at around Rs 15 lakh crore at the end of June.
LIC has exposure in 282 companies through investment in their shares as of June 30, 2024.
Assets under management (AUM) of the life insurer has increased to Rs 53,58,781 crore as of June-end as compared to Rs 46,11,067 crore at the end of same quarter of the previous year, registering an increase of 16.22 per cent.
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