The report said that LIC’s holding in these companies has come down to an all-time low of 3.66 per cent by March 31, 2021, from 3.7 per cent as on December 31, 2020.
Life Insurance Corporation of India
The stake in about 300 companies of Life Insurance Corporation of India (LIC), the country’s largest insurance company, has come down to the lowest level ever. According to a report, LIC has at least 1 percent stake in 296 companies. The report said that LIC’s holding in these companies has come down to 3.66 per cent all-time loans as on March 31, 2021, from 3.7 per cent as on December 31, 2020.
According to the report of Prime Database Group, due to profit-booking by the country’s largest institutional investor, the stake in these companies has come down to the lowest level ever. LIC’s stake in these companies was at an all-time high of 5 per cent on June 30, 2012.
7.24 lakh crore holding
However, the value of Indian currency holdings reached an all-time high of Rs 7.24 lakh crore for the quarter ended March 31, 2021, an increase of 6.30 per cent over the previous quarter. During this, the Sensex and Nifty gained 3.70 percent and 5.10 percent respectively. LIC also maintains a major share of equity investments with 76 per cent stake in insurance companies.
The holding of insurance companies also declined to a 5-year low of 4.80 per cent as on March 31, 2021, from 5 per cent on December 31, 2020. However, in rupee value, it rose 3.09 per cent from the previous quarter to reach an all-time high of Rs 9.48 lakh crore as on March 31, 2021.
LIC is the largest investor in the country
India’s largest life insurer is also the largest investor in its markets. It is managing assets of around Rs 34 lakh crore. It has been the government’s biggest financial supporter, especially in its disinvestment programmes.
LIC’s earnings mainly come from the sale of shares, a non-linked portfolio consisting of traditional life insurance policies.
Record earnings from share sale for the first time in 65 years
Let us inform that LIC has earned a record profit of Rs 37,000 crore from the sale of shares in the financial year 2020-21. This is the highest in the history of 65 years. LIC has the advantage of reaching a record high of the stock market.
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