LIC lost money in 18 out of 21 public sector bank shares in last 2.5 years

  Even as the Life Insurance Corporation (LIC) looks at buying up to 51 per cent stake in IDBI Bank, its investment record in public sector banks (PSBs) is disappointing. LIC has lost money in 18 out of 21 PSBs in the last two and a half years. At the end of March this year, the government-owned insurance major had equity investments of over 1 per cent in 21 PSBs but only three of them are now trading at a higher stock price than their prices at the end of December 2015.  The country’s largest insurer’s three profitable investments include Indian Bank.....

Key stories on business-standard.com are available to premium subscribers only.

Already a premium subscriber?

Subscribe to get an across device (Website, Mobile Web, Iphone, Ipad, and Android Phone applications) access to Premium content, Breaking News alerts, Industry Newsletters, Stock and Corporate news alerts, access to Archives and a lot more.

Most Read

Top Stories

Markets

Companies

Opinion

Latest News

Todays Paper

News you can use

Outbrain