RipplesAdvisory:LIC to slow stock investments after bumper buy

MUMBAI - State-owned Life Insurance Corp of India (LIC) will likely slow stock purchases for the rest of the fiscal year after nearly doubling its equity market investments in the first half from a year earlier.

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LIC, with assets of 27.26 trillion rupees ($423.3 billion) as of end-September, had a target of investing 500 billion rupees in stocks through the year which ends in March.

During the first six months of that period, LIC's stock market investments more than doubled from a year earlier to 392.24 billion rupees. As of end-November it had bought equities worth about 440 billion rupees, top executives said.