LIC bank stakes show steady rise

LIC, India s largest insurer and one of the key investors in equities, has slowly & steadily increased its stake in various Indian banks. The insurance behemoth s year-on-year holding in at least 13 banks as of March 31, 2010, was more compared with what they were in the year-ago period. On an overall basis, its portfolio is skewed in favour of PSU banks than that of private lenders. The bullish stance seems to be in line with that of foreign institutional investors, or FIIs, who have also increased their stakes in these banks y-o-y. Interestingly, FII holdings in private sector banks, ...

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