FE Editorial : Insuring disinvestment

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SummaryWith a big chunk of the Hindustan Copper Limited issue—estimated at around 30-40%—having been picked up by Life Insurance Corporation, the disinvestment has once again been rescued by the PSU insurance major.

level since then. Though LIC buying more shares of public sector enterprises being disinvested will help the crisis-struck budget, insurance-holders of LIC’s policies may have a thing or two to say about this—even if you don’t look at issues like ONGC where LIC is out of money, over the last decade, the NSE’s PSU index has tripled while the overall Nifty grew 7 times. That is, LIC’s policy-holders are paying a price for the support LIC is giving in insuring the disinvestment process.

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