LIC invests Rs 90k cr in 1st half of this fiscal

Public sector life insurance major LIC has pumped in around Rs 90,000 crore into the markets, of which Rs 16,000 crore was into equities during the first-half of this fiscal, according to Life Insurance Corporation of India (LIC) Executive Director (Investment-Operations) N Mohan Raj. 
LIC's investment in the stock market every year is around 8-9 per cent of the total premium collected. The life insurer was bullish on the banking and pharma sectors. With an uptrend in the market, the insurance major could exceed its investment target of Rs 1.75 lakh crore in FY'10.