LIC to invest Rs 400 bn in equities in FY14

Written by Reuters | New Delhi | Updated: Oct 18 2013, 21:40pm hrs
LICLIC chairman says banks, infrastructure, housing and automobile sectors are of interest to the insurer.
State-run Life insurance Corp of India (LIC) will invest 400 billion rupees in domestic equities in fiscal 2014, its Chairman S K Roy told a television channel in an interview.

The LIC chairman also said it had invested in IT and pharmaceutical stocks, while banks, infrastructure, housing and automobile sectors were also of interest to the insurer.

LIC is a major investor in domestic equities.

Analysts in a Reuters poll predicted that the BSE Sensex will eclipse the January 2008 life high of 21,206 by June next year.