Cashing in on the slump that has brought down valuations of various stocks to attractive levels, Life Insurance Corporation of India (LIC) has invested Rs 53,000 crore in domestic equity markets so far in 2015-16.
In the last financial year, the public sector insurance giant pumped in Rs 39,000 crore in stocks, chairman SK Roy said.
“Much of the year, capital markets have been down. This has given us an opportunity to be net buyers… We have been focusing on buying available stocks, and have crossed Rs 53,000 crore as far as our equity purchases are concerned,” he said on the sidelines of launching e-services for LIC’s policy holders.
