LIC may invest Rs 60,000 cr in equities in FY15

Chairman says he sees further upside for markets in FY15

Life Insurance Corporation (LIC) of India Chairman S K Roy is positive about Indian stocks, according to an interview with TV channel ET Now on Tuesday.

Roy said LIC's 2014-15 equity investments are seen at Rs 60,000 crore ($9.79 billion).

"I see further upside for market in FY15," Roy told ET Now, adding that LIC's overall investments in 2014-15, including outside of equities, may cross Rs 3 lakh crore.

Roy also said he does not see the impact of poor monsoon on the economy, adding that RBI holding rates is positive for markets.

(1 US dollar = 61.3100 rupee)