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SBI Life bets on metals, oil and gas sectors for investment growth

SBI Life is a joint venture between top Indian lender State Bank of India and BNP Paribas Cardif, and went public last month after a $1.3 billion initial public offering

Reuters  |  Mumbai 

SBI Life Insurance Co Ltd has increased investments in the metals, oil and gas sectors as a rise in energy and metals prices is set to drive growth in commodity stocks, the insurer's chief investment officer Gopikrishna Shenoy told Reuters. Strong refining margins at oil and gas companies, the Indian government's push to encourage the use of gas as a cleaner fuel and a rise in steel and base metals prices are expected to drive earnings in the sectors, Gopikrishna Shenoy said. "That is why we are overweight on these sectors on select portfolios," said Shenoy, who ...

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First Published: Thu, November 23 2017. 17:51 IST