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BRIEF-India's Life Insurance Corp chairman: more than doubled equity investments vs year ago
December 5, 2017 / 11:10 AM / in 9 days

BRIEF-India's Life Insurance Corp chairman: more than doubled equity investments vs year ago

Dec 5 (Reuters) -

* India’s life Insurance Corp Chairman V. K. Sharma says:

* Profit on sale of equities as of Sept end was 123.74 billion rupees, up 16.26 percent on year

* Income from debt market investments will come down to some extent

* Debt portfolio investment growing in double digits

* Expects to meet profit target from equity market investments this financial year

* Bought 1.61 trln rupees of government bonds and state development loans during april-sept

* Invested 392.24 billion rupees in equities in April-Sept versus 179.74 billion rupees year ago

* On buying bank recap bonds: will support banks whenever needed

* Will buy 100-200 billion rupees of government bonds during Dec to March

* Will book profit in equities, wont buy much rest of this year

* On Infosys: more optimistic at this stage as things have settled down

* Gross NPA stands at 192 billion rupees as of end-Sept (Reporting By Suvashree Choudhury)

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