Selling pressure on frontline stocks and weakness in the broader markets have weighed on the equity portfolio of Life Insurance Corporation (LIC) to the tune of Rs 57,000 crore in the current quarter. The insurer is known for making large equity investments, and has substantial holdings in many companies.
As of the June quarter, the value of insurer’s holdings in listed companies stood at Rs 5.43 trillion. At current prices, the value of these holdings stands at Rs 4.86 trillion, translating into a mark-to-market hit of more than Rs 57,000 crore or 10.5 per cent. The analysis ...
