|
New Delhi: India’s biggest investor in stock markets—Life Insurance Corporation—can stay invested more than 10% in blue-chip companies but cannot raise its stake beyond the threshold, imposed by regulator IRDA, in case of fresh investment. The Corporation, which has an equity market exposure of over Rs two lakh crore, had been having problems relating to the ceiling of 10% for investment in a listed entity as it has significantly higher stake in a significant number of major Indian corporate.
“LIC has no immediate pressure to pare its existing equity in the companies,” IRDA chairman J Hari Narayan said adding that the ceiling will apply to companies in which stake of LIC is less than the limit.
More from Insurance
Discuss this story on expressindia forums
|
|
 |
 |
 |
About Us | Contact Us | Advertisers | Site Map | Make us your homepage | Work for Us | RSS | Subscribe | Electronic Edition | Privacy Policy© 2009: The Indian Express Limited. All rights reserved throughout the world
