After raking in the moolah from sale of equity investments and aggressively investing in equity markets in the first nine months of the current financial year, LIC said it is hand-picking investments in the backdrop of volatility in the equity markets.
In the first nine months of the current financial year, India’s largest life insurer netted a much higher profit of Rs. 20,000 crore from the sale of equity investments against Rs. 16,000 crore in the year-ago period. Equity investments during the reporting nine months jumped to Rs. 70,000 crore against Rs. 49,000 crore in the year-ago period.
VK Sharma, Chairman, LIC, said the corporation sold more than it bought in the equity markets in January. He added that the corporation is now hand-picking its investments.
