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LIC's Profit Soars To Rs 20,000 Crore On Equity Bull Run
As per a leading daily, LIC invested heavily in the IPOs of public sector companies including New India Assurance and GIC Re. A total of Rs. 3 lakh crore is said to be invested in G-securities, IPO a
With an asset base of more than Rs. 27 lakh crore in the equities, the major insurance player LIC has logged a profitability figure of Rs. 20000 crore on the back of bull run registered in the equities market since 1 year. This has been achieved in just 9 month till December 2017 as against Rs. 19000 crore accumulated in the whole of previous fiscal year.
The benchmark Sensex has zoomed up by a whopping 27.9% in the CY 2017 while the combined m-cap of all the listed companies has touched Rs 151.73 lakh crore. While in the new year 2018 until date has rose by 5 odd percent.
As per a leading daily, LIC invested heavily in the IPOs of public sector companies including New India Assurance and GIC Re.
A total of Rs. 3 lakh crore is said to be invested in G-securities, IPO and equity markets by the corporation.
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