In the last two and a half months, Life Insurance Corporation of India (LIC) has lost Rs 57,000 crore by investing in the stock market. Of the companies in which LIC has invested, 81 per cent of its market value has fallen.
LIC's investment in the stock market has resulted in a loss of Rs 57,000 crore in the second quarter of this financial year (July to September so far). LIC has the maximum investment in ITC, followed by SBI, ONGC, L&T, Coal India, NTPC, Indian Oil and Reliance Industries.
According to Business Standard, LIC's investment value in the companies listed on the stock market was Rs 5.43 lakh crore at the end of the June quarter, but now it has come down to just Rs 4.86 lakh crore. In this way, investment in LIC's stock market for just two and a half months has cost Rs 57,000 crore.
It is worth noting that the Life Insurance Corporation of India (LIC), sitting on the thick reserves of millions of crores of rupees, has been used as a milch cow on the strength of hard earned income of crores of people of the country. LIC is being used as the savior of government companies to fulfill the government's disinvestment agenda.
LIC's investment in public companies has quadrupled in the last decade. According to the Reserve Bank of India (RBI) data, till March 2019, LIC has invested a total of Rs 26.6 lakh crore, of which Rs 22.6 lakh crore has been invested in public sector companies alone, only Rs 4 lakh crore in the private sector. Have been planted.
In this way, the share of LIC's total investment in public sector companies has now been 85 percent as compared to 75 percent a decade ago. In this way, it has increased by about 15 percent in a decade.
