LIC books record stock market gain ahead of IPO
Lic state-owned, the largest insurance company in the country, is also the largest domestic investor in the Indian market, buying shares worth ₹ 90,000 crore at FY21 to reach the total stock market investment of fiscal year.
Life Insurance Corp of India (LIC), which worked on the sale of the largest public shares in the country, recorded a record of more stock market profits than ₹ 10,000 crore in the April-June period, two people realized the problem.
Lic state-owned, the largest insurance company in the country, is also the largest domestic investor in the Indian market, buying shares worth ₹ 90,000 crore at FY21 to reach the total stock market investment of fiscal year.
“Being a contributed investor, LIC has the advantage of ordering profits from shares purchased for years again when there are almost no other insurance companies. This may be the highest June quarter-earnings,” said a LIC official, one of the two people quoted above , “We have sold shares worth around ₹ 20,000 crore in the first quarter of this difficult pandemic year, from where profits are more than ₹ 10,000 crore,” said the person looking for anonymity.
Ordering Record profit in the June quarter is expected to help the government attract more investors to Mega-IPO in work.
In the June quarter, LIC cut the stakes in the development of Finance Corp. Ltd. with ₹ 3,149 crore, according to Thursday’s closing price. Insurance companies also sell HDFC Bank shares Ltd, Biocon Ltd and Hero Motocorp Ltd during the June quarter. LIC also sells shares in many other companies registered, but only 17 share ownership patterns have been updated so far.
Lic profits mainly come from stock sales in their unrelated large portfolios, including traditional life insurance policies.
LIC plan to invest more than ₹ 5 lakh crore at FY21, the two people quoted above said with anonymity requirements.
Lic state-owned, the largest insurance company in the country, is also the largest domestic investor in the Indian market, buying shares worth ₹ 90,000 crore at FY21 to reach the total stock market investment of fiscal year.
Life Insurance Corp of India (LIC), which worked on the sale of the largest public shares in the country, recorded a record of more stock market profits than ₹ 10,000 crore in the April-June period, two people realized the problem.
Lic state-owned, the largest insurance company in the country, is also the largest domestic investor in the Indian market, buying shares worth ₹ 90,000 crore at FY21 to reach the total stock market investment of fiscal year.
“Being a contributed investor, LIC has the advantage of ordering profits from shares purchased for years again when there are almost no other insurance companies. This may be the highest June quarter-earnings,” said a LIC official, one of the two people quoted above , “We have sold shares worth around ₹ 20,000 crore in the first quarter of this difficult pandemic year, from where profits are more than ₹ 10,000 crore,” said the person looking for anonymity.
Ordering Record profit in the June quarter is expected to help the government attract more investors to Mega-IPO in work.
In the June quarter, LIC cut the stakes in the development of Finance Corp. Ltd. with ₹ 3,149 crore, according to Thursday’s closing price. Insurance companies also sell HDFC Bank shares Ltd, Biocon Ltd and Hero Motocorp Ltd during the June quarter. LIC also sells shares in many other companies registered, but only 17 share ownership patterns have been updated so far.
Lic profits mainly come from stock sales in their unrelated large portfolios, including traditional life insurance policies.
LIC plan to invest more than ₹ 5 lakh crore at FY21, the two people quoted above said with anonymity requirements.
