LIC to pump in Rs 1 lakh crore in stock market in 2009-10

by khalid on 04/09/2009 · 0 comments

LIC

Domestic life insurance major LIC announced that it will invest Rs 1 lakh crore in the stock market in the current fiscal 2009-2010, up from Rs 35,000 crore during last fiscal 2008-09.

The company have already invested Rs 40,000 crore in the first four months of the current fiscal and planned to invest Rs 1 lakh crore by March 2010.

Our market witnessed volatility after the collapse of Lehman Brothers in America last year. Having crossed the 21,000 points mark in January 2008, the Sensex nosedived to around 8,000 points last year itself. Now Such a large investment by the country’s biggest State runned insurance major will boost the sentiments of the market.

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