LIC to hike equity investment in FY14

India Infoline News Service | Mumbai |

During the June-September 2013 quarter, LIC increased its shareholding in banks while paring its exposure to the IT and pharma sector.

Life Insurance Corporation of India (LIC) on Thursday said that it has made investments worth Rs. 320 billion in the first half of the current financial year and expects to surpass its initial investment target of Rs. 400 billion in equities by the end of this fiscal.
During the June-September 2013 quarter, LIC increased its shareholding in banks while paring its exposure to the IT and pharma sector.
The country's largest insurer invested in various companies including banks such as ICICI Bank, YES Bank and State Bank of India among others.
While in IT and pharma sector, LIC invested in heavyweights like Infosys, Tech Mahindra, HCL Technologies and Lupin among others.
 

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