INSUBCONTINENT EXCLUSIVE:
through the past month, putting in place a judicious and systematic financing plan to raise its stake in the beleaguered IDBI Bank.
The
Equity sales and subsequent purchases of beaten-down stock in state-run lenders such as IDBI Bank should be seen in the broader context of
reaping extraordinary long-term returns when the fortunes of public-sector banks revived in the future, one of the two people said.
LIC did
With an expected correction in the equity markets, it has booked profits by selling a part of its large holdings
It has sold stocks that have already generated significant returns and are falling due to market corrections, sources said.
Monthly premium
It need not rush to generate returns in the short term, said another source
It booked a profit of Rs 25,000 crore by selling equities in the last financial year
It had earned Rs 19,000 crore profit in 2016-17, and Rs 11,000 crore a year earlier.
Investment gains at the insurance behemoth have beaten
returns on the Sensex of late.
