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LIC books 72% profit at Rs 19,000 cr from equity play in FY17

Sensex rally has helped nation's largest financial investor book 19% more profit in March quarter

Press Trust of India  |  Mumbai 

The continuing rally in the markets has had the nation's largest financial investor LIC booking a whopping 72 per cent more profit at Rs 19,000 crore from its equity play in FY17, even though its incremental investment into equities has been steadily falling. In FY16, Life Insurance Corporation (LIC), whose total investment stood at around Rs 23 trillion, had booked Rs 11,000 crore profit from the markets. Recent Sensex rally has helped it book 19 percent more profit in the March quarter alone. During the April-December period of 2016, it had netted Rs 16,000 crore in ...

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First Published: Tue, May 16 2017. 20:41 IST
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