In the second wave of corona (April-June quarter), Life Insurance Corporation of India (LIC) raised Rs 10,000 crore from the stock market. LIC made the most profit by selling shares it bought a few years ago. Let us tell you that LIC posted a profit of over Rs 7000 crore in the April-June quarter of a year ago.
At the same time, between April and October 2020, LIC invested around Rs 15,000 crore in the capital market. In the financial year 2021, LIC has invested a total of Rs 94,000 crore in the stock market. Thus, by March 2021, the total investment in the LIC market was Rs 8 lakh crore.
20,000 crore shares sold: “In the first quarter of this difficult year of infectious disease, we have sold over Rs 20,000 crore worth of shares and made a profit of over Rs 10,000 crore,” an LIC official said. LIC made this gain at a time when the second wave of the Kovid epidemic was at its peak and the country was receiving more than 4 million new patients every day. Even during this period of infectious disease, the stock market is up more than six percent. This is the reason why LIC also made profits.
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The good news ahead of the IPO: It is expected that record-profit-booking will help the government attract more investors for the mega-IPO. Let us tell you that the government is coming up with LIC’s IPO this fiscal year. The process for this has already begun. Let us tell you that LIC is the largest investor company in the Indian domestic market.
