LIC Marks Record Breaking Profit Booking of Rs 25000 in FY18
Indian state-owned insurance and investment company, Life Corporation of India has booked record equity trading profits of Rs. 25,000 crore in 2017-18, much above Rs. 19,000 crores a year ago as informed by sources.
LIC is known to adhere equity assets including mutual funds and shares worth Rs. 5 trillion (until the end of December) and profits approximately 5% of assets under management.
Meanwhile, the company is working on its annual accounts, the same will be published in May.
"The stock market has mostly been resilient in the past year and LIC has managed to get enough selling opportunities", reported a source on the promise of anonymity.
Record-breaking profit from LIC is signaling a positive message if the insurer enhances its market exposure at the same time. This will ...