Life Insurance Corp. of India (LIC), the country’s largest institutional investor, has booked a trading profit of at least Rs13,500 crore from the sale of equity holdings in the first half of the current financial year, as stocks scaled record highs.
The figure marked a 23.8% increase over the Rs10,900 crore in trading profit that LIC earned in April-September 2016 through investment redemptions, two people with direct knowledge of the insurer’s investment earnings said.
