LIC invests Rs. 46,850 cr in equities during Apr-Jan

LIC has infused Rs 46,850.33 crore in equities in the first 10 months of FY20, according to official data. In the April-January period of FY19, LIC has invested Rs 59,115.67 crore. According to LIC, its profit in the first 10 months of FY20 from investments in equities increased by 42.36% to Rs 23,273.85 crore, from Rs 16,348.81 crore a year ago. During the same period, domestic institutional investors (DIIs) inclusive of mutual funds and insurance firms had invested Rs 56,827.37 crore in the stock markets. According to the press release, LIC breached the Rs 1.5 trillion mark in new business premium for the first time ever in the 10-month period in order to maintain its dominant position in the industry, growing 17.48% year-on-year in terms of first-year premium to Rs 45,199 crore.