India economy Government India

LIC may invest less in stocks as premium growth stalls

Reading now: 362
www.livemint.com

LIC has been traditionally called upon by the government to use its deep pockets to rescue privatization plans and even support the stock markets during major sell-offs Life Insurance Corp.

of India (LIC), the country’s largest buyer of stocks, may cut its equity investment target to about ₹30,000 crore for the current year, the lowest in a decade, as new premium growth declined amid coronavirus-related disruptions, two people directly aware of the insurer’s internal discussions said.

LIC invested around ₹47,000 crore in stocks in the year to March, a 21% decline from the previous fiscal year, according to official data.

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA