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LIC to invest Rs 40,000 cr in equities in FY14: chairman

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State-run Life insurance Corp of India (LIC) will invest Rs 40,000 crore rupees in domestic equities in fiscal 2014, its Chairman S.K. Roy told a television channel.

The LIC chairman also said it had invested in IT and pharmaceutical stocks, while banks, infrastructure, housing and automobile sectors were also of interest to the insurer.

LIC is a major investor in domestic equities.

Analysts in a Reuters poll predicted that the BSE Sensex will eclipse the January 2008 life high of 21,206 by June next year.



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