LIC invests Rs 35,293 cr in 9 months of FY14

So in all, LIC invested Rs 1.88 lakh crore in the three quarters of the current fiscal as compared to Rs 1.96 lakh crore invested in the nine months of the previous fiscal.

Recently, the Government has approved to sell a 5 per cent stake in BHEL to state-owned Life Insurance Corporation of India, fetching the exchequer about Rs 2,046 crore.

BHEL shares gained 3.18 per cent to Rs 167.20 apiece at the close on the BSE on Friday, valuing the company at Rs 40,923 crore. A 5 per cent stake would be worth about Rs 2,046 crore.

The Department of Heavy Industries, which is the administrative ministry of the company, has for long opposed the proposed disinvestment in state-run BHEL, citing unfavourable market conditions.

It wanted the issue not to look like a “distress sale” but rather one that would reap “good value”.