LIC Has Made Investment In Equity Market (10-Jun-2010)
Life Insurance Corporation of India (LIC) has made a significant investment of Rs 8,363 crore in the equity market during the first two-months of this financial year.
Moreover, the insurer expects to make an investment of Rs 2,00,000 crore across asset classes in the financial year.
Commenting on this investment, LIC''s Executive Director (Investment-Operations), N Mohan Raj, told reporters “We have invested Rs 8,363 crore in the equity market in the first two-months of the current fiscal. We had put a little over Rs 61,000 crore in the stock market last yearâ€.
Cumulatively, the corporation has made an investment of Rs 26,000 crore in various asset classes in the first two-months of this fiscal.
However, LIC last month had said that it is now eyeing to make some big investments in the stock markets by the end of the current financial year (2010-11).
Last year, LIC had invested Rs. 61,000 crore in equities, which is more than half of the money invested by all the Foreign Institutional Investors (FIIs). This year LIC plans to invest between Rs. 67,000-75,000 crore in equities.
Of this total amount, LIC will invest Rs. 15,000-20,000 crore in public offers floated primarily by public sector companies. During the last financial year, the insurance major had invested Rs. 13,000 crore in the primary market.
Meanwhile, Country’s largest insurer by a huge margin, the state owned LIC, aggregated approximately twice as much FYP (First Year Premium) as it did last year in April, the public insurer earned Rs 4,173 crore in FYP for the month of April as against Rs 2,113 crore in the same period previous year, registering a growth of around 98 percent, taking its market share to 72 percent for the month as against 58 percent in April 2009.
Private insurers that follow come after a huge gap of over Rs 3870 crores or around 93 percent lower than LIC, with ICICI Prudential at Rs 3030 crore.
Top News Today
 Godrej Properties, Mumbai based real estate developer launched its new residential project Godrej Alpine in Mangalore. It aims to complete 499-apartment Godrej Alpine for occupation in 36 months. Godrej
 Mahindra & Mahindra, auto major has stopped the second phase of booking for its latest sports utility vehicle XUV500. It has received over 25,000 orders in a period of 10 days from January 25 to February
 Reliance Power, the Anil Ambani group company's 2,400-MW Samalkot plant in Andhra Pradesh is likely to be ready for electricity generation this fiscal. It will install six gas turbines at the plant having
|
International Stock News
 The US markets rose on Monday, sending the Dow industrials to their highest close since 2008, as Greece's government made progress on measures to secure international aid. Also, a Labor Department report
 The US markets made a mix closing on Thursday, as a drop in jobless claims fueled optimism about the economy and investors looked to the next day's employment report as the next indicator of the economic
 The US markets made a mixed closing on Tuesday, with the indices mostly slipping after US economic data failed to live up to expectation. The reports showed that American consumer confidence trailed estimates
|
|
|