How LIC made a killing with its equity strategy


Meanwhile, foreign portfolio investors, too, pumped in nearly Rs 1.7 lakh crore in equities in 2020 which is highest among all emerging markets.

Synopsis

Indian equity markets plunged over 40 per cent from January highs to a four-year low on March 24 when a nationwide lockdown triggered a panic that earnings would collapse as businesses shuttered. Foreign investors, mutual funds and individual retail investors fled in March and April fearing the worst.

Mumbai: Life Insurance Corporation (LIC), India’s biggest institutional investor, is on course to register its best-ever annual equity returns. It raised stock purchases by 60 per cent in the first nine months of the fiscal as its enormous cash flows helped the insurer bet on a bright future when the rest of the investing community panicked.The insurance behemoth purchased equities worth Rs 64,801 crore in the first nine months of the fiscal

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