{"id":10231,"date":"2018-07-10T00:27:25","date_gmt":"2018-07-10T00:27:25","guid":{"rendered":"http:\/\/151.106.38.4\/2018\/07\/10\/lic-sells-equity-holdings-worth-rs-12000-crore\/"},"modified":"2018-07-10T00:27:25","modified_gmt":"2018-07-10T00:27:25","slug":"lic-sells-equity-holdings-worth-rs-12000-crore","status":"publish","type":"post","link":"https:\/\/nagalandpost.net\/index.php\/2018\/07\/10\/lic-sells-equity-holdings-worth-rs-12000-crore\/","title":{"rendered":"LIC sells equity holdings worth Rs 12,000 crore"},"content":{"rendered":"<p><img src=\/old_site\/><\/p>\n<div><span style=\"font-size: 13.3333px;\">Life Insurance Corp (LIC), the country\u2019s biggest institutional investor, is said to have sold equities worth about Rs 12,000 crore through the past month, putting in place a judicious and systematic financing plan to raise its stake in the beleaguered IDBI Bank .<\/span><\/div>\n<div><span style=\"font-size: 13.3333px;\">The LIC\u2019s move was part of a prudent approach to arranging funds for the acquisition, two people familiar with the matter told ET. Equity sales and subsequent purchases of beaten-down stock in state-run lenders such as IDBI Bank should be seen in the broader context of reaping extraordinary long-term returns when the fortunes of public-sector banks revived in the future, one of the two people said.&nbsp;<\/span><\/div>\n<div><span style=\"font-size: 13.3333px;\">The LIC mostly invests in blue-chip stocks. With an expected correction in the equity markets, it has booked profits by selling a part of its large holdings. It has sold stocks that have already generated significant returns and are falling due to market corrections, sources said.&nbsp;<\/span><\/div>\n<div><span style=\"font-size: 13.3333px;\">Monthly premium inflows could either be used to invest in high yielding debt papers or value buying in stocks.&nbsp;<\/span><\/div>\n<div><span style=\"font-size: 13.3333px;\">\u201cIt has also recently bought some FMCG stocks available cheap but have future potential because of the consumption story,\u201d said another market source.&nbsp;<\/span><\/div>\n<div><span style=\"font-size: 13.3333px;\">As a long-term investor, LIC always enjoys an advantage.<\/span><\/div>\n<div><span style=\"font-size: 13.3333px;\">&nbsp;It need not rush to generate returns in the short term, said another source. The average holding period is not less than 10 years.&nbsp;<\/span><\/div>\n<div><span style=\"font-size: 13.3333px;\">LIC\u2019s profits have been increasing. It booked a profit of Rs 25,000 crore by selling equities in the last financial year. It had earned Rs 19,000 crore profit in 2016-17, and Rs 11,000 crore a year earlier.&nbsp;<\/span><\/div>\n<div><span style=\"font-size: 13.3333px;\">Investment gains at the insurance behemoth have beaten returns on the Sensex of late.&nbsp;<\/span><\/div>\n<div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Life Insurance Corp (LIC), the country\u2019s biggest institutional investor, is said to have sold equities worth about Rs 12,000 crore through the past month, putting in place a judicious and systematic financing plan to raise its stake in the beleaguered IDBI Bank . The LIC\u2019s move was part of a prudent approach to arranging funds [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-10231","post","type-post","status-publish","format-standard"],"_links":{"self":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/10231","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/comments?post=10231"}],"version-history":[{"count":0,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/10231\/revisions"}],"wp:attachment":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/media?parent=10231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/categories?post=10231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/tags?post=10231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}