vIndianz.com (17 Feb, 2010) — New Delhi: LIC 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 fiscal.
“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 55,000-60,000 crore,” LIC executive director (investment operations) N Mohanraj told PTI on Tuesday. 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 2008.
On further prodding about investments details, he said, it is sector agnostic and spread across many companies. Besides, LIC is also participating in the primary market by investing in follow-on public offer by public sector companies. LIC was among the largest investors in NTPC’s follow-on public offer and going forward it would bet in other PSU public offers. The company would be aiming for a good portion of Rural Electrification Corporation’s offer, he is quoted as saying by Indian news agency Press Trust of India.
Further Reading- Venture-cap investments fall 7 percent in Q4 – The Associated Press
- Pimco’s Gross says there will be no QE3 – Reuters
- Pimco’s Gross says there will be no QE3 – Reuters
- Pimco’s Gross says there will be no QE3 – Reuters
- Religare MF unveils Credit Opportunities Fund
- Goldman Denies Offering Libya a Big Equity Stake – CNBC.com
- Pimco’s Gross says there will be no QE3 – Reuters
- Pimco’s Gross says there will be no QE3 – Reuters
- Wis. investments for state workers have solid 2010 – Bloomberg
- Goldman Denies Offering Libya a Big Equity Stake – CNBC.com
Stay updated! Follow us on twitter and subscribe to our feed via Feedburner.
No Comments