The value of equity holdings of Life Insurance Corporation (LIC) has climbed to record levels. At the end of the September quarter, the insurance behemoth’s holding in companies from the top 200 universe stood at $77 billion. Since then, the market has climbed another 12 per cent. Assuming that the value of LIC’s holding has risen in line with the markets, its portfolio size today could be around $86 billion, higher than the previous record of $84 billion in March 2018. In March 2020, when the markets were at a low, the value of LIC equity holdings had plunged to $55 billion .....