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LIC may put Rs 60,000 cr in Indian Stock market

THE country's largest insurer LIC, on Tuesday said it would pump in about Rs 10,000 crore in the stock markets by March-end, taking its annual equity investment to Rs 60,000 crore this financial year.

"Our investment in the equity market so far has already crossed Rs 50,000 crore and we expect to close the fiscal (2009-10) with an investment of Rs 55,00060,000 crore," LIC executive director (investment operations) N Mohanraj said.

During 2008-09, LIC invested Rs 40,300 crore in the equity market, Mohanraj said.

This fund infusion in the market by the country's biggest domestic financial institution boosted the sentiments at bourses, which witnessed volatility, especially after the collapse of Lehman Brothers in America in 2008.

On further prodding about investments details, the company ED said, it is sector agnostic and spread across many companies.

Besides, the public sector insurer is also participating in the primary market by investing in followon public offer by public sector companies.


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