Rs. 1.5 trillion invested by LIC in G-SECS

State-run Life Insurance Corporation, the country’s biggest institutional investor, has bought over Rs 1.5 trillion in Government bonds so far this fiscal and has reached the cap, apart from being a net buyer in the equities, according to LIC Chairman SK Roy.
He said that the Corporation has been the net buyer of equities in the current fiscal and has already booked profit worth Rs 10,000 crore so far this fiscal.
Defending his huge exposure to banks, especially in state-run banks some of whose stocks are trading even below book value, he said the Corporation is not in a bad position due to these investments as “we are in them for the long term. There are reports that it’s the right to accumulate banking stocks”.
With over Rs 2 trillion holdings, LIC is the single largest investor on Dalal Street, having considerable stake in all the blue-chips.
Having over 300 million policyholders and total assets of over Rs 18 trillion, LIC is the largest insurer.

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