The country’s largest government life insurance company LIC (Life Insurance Corporation of India) has made a big announcement regarding stock market investment. LIC’s Managing Director and CEO Siddharth Mohanty has said that the insurance company is considering making a new investment of about Rs 1.30 lakh crore in the stock market in the current financial year. Let us tell you that LIC is continuously increasing its investment in the stock market.
LIC invested Rs 38,000 crore in the first quarter
LIC has invested around Rs 38,000 crore in the stock market during April-June in the financial year 2024-25. This amount was Rs 23,300 crore in the same period last year. In the first quarter of the current financial year, LIC earned a profit of Rs 15,500 crore from its investment in the equity market.
Last financial year the company had invested Rs 1.32 lakh crore
The company’s profit from investment was 13.5 per cent higher on a quarterly basis. Mohanty said, “We are definitely looking at the fluctuations in the markets and prices. We are looking at investing a good amount, at least as much as we invested in the last financial year. LIC had invested around Rs 1.32 lakh crore in FY 2023-24.”
Shares worth Rs 15 lakh crore in 282 companies
Mohanty said that till the end of June, the market value of LIC’s investment in the shares of various companies was about Rs 15 lakh crore. Till this time, LIC had invested in the shares of 282 companies. LIC’s AUM increased to Rs 53,58,781 crore by the end of June, while it was Rs 46,11,067 crore at the end of the same quarter last year. There was an increase of 16.22 percent.
The total investment of the country’s largest insurance company increased by Rs 7,30,662 crore to Rs 49,75,514 crore by March 2024. It was Rs 42,44,852 crore in March 2023.
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