LIC Investment Plan for the Upcoming Fiscal Year
LIC to Invest Rs 2.4 Trillion in Markets Starting April 1
According to sources familiar with the matter, LIC, the country’s largest investor, is set to invest a record-breaking Rs 2.4 trillion across various markets, including locally traded company shares, in the next fiscal year starting April 1.
This investment is expected to not only bolster markets, but also generate maximum returns for policyholders and profits for shareholders. The move is poised to become LIC’s largest-ever investment, and it could potentially serve as a crucial support system for Indian markets in FY2024, the source noted.
In particular, around 35% of the total investment, which amounts to approximately Rs 80,000 crore to Rs 85,000 crore, could be allocated to shares of listed companies in India for the fiscal year 2024.
Headquartered in Mumbai, the Life Insurance Corporation of India (LIC) is a prominent public sector life insurance company. As of May 2022, LIC manages total assets worth ₹41 trillion, making it the largest insurance company and institutional investor in India.
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