A profit of Rs 2000 crore for LIC

Thursday 29, September, 2005 LIC has been able to garner a trading profit of Rs 2000 crore till 15 September 2005. It now expects to invest a higher portion of investible funds in equities. The industry sources said it intends to invest around 10% of its investible funds in 2005-2006 compared to last year, which was 8-8.5%. LIC would be making an investment of almost Rs 10,000 in the next six months. Life insurer has made a remarkable profit and now wants to book profits considering the sustained rise in the equity market. From the profit made, 1700 crore was made from equities and the remaining from government securities. LIC has done very well and has posted a 33% increase in its equity portfolio.

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