LIC may invest $9.8 bn in equities this fiscal

Life Insurance Corporation (LIC) of India Chairman S.K. Roy is positive about Indian stocks, according to an interview with TV channel ET Now on Tuesday.

Roy says LIC' s 2014-15 equity investments seen at Rs 600 crore ($9.79 billion).

"I see further upside for market in FY15," Roy tells ET Now.

Adds LIC's overall investments in 2014-15, including outside of equities, may cross Rs 3 trillion.

Roy also says he does not see the impact of poor monsoon on the economy, adds RBI holding rates is positive for markets.

(1 US dollar = 61.3100 rupee)

(Reuters)