When the whole lot of FII investors is looking forward to dump Indian stocks (as well as other emerging markets stocks), Life Insurance Corporation of India bets big in Indian equities. "LIC is looking to invest approximately Rs17,000 crores (US$3.4 bn) in Indian equities in January-March 2009 quarter" LIC's managing director Thomas Mathew. This will significantly erase the excess stock from the system.
Exclusive analysis by Team M&A shows that LIC has till date invested Rs2,600 crores in Indian equities. Refer to table above for the company-wise break-up.
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