Fund managers at India's largest private sector life insurer, ICICI Prudential Life Insurance, are turning their attention to the technology and pharmaceutical sectors following bumper payoffs from a contrarian bet on the country's telecommunications sector. ICICI Pru Life's Chief Investment Officer, Manish Kumar, said he kept buying telecoms shares this year even as a bruising price war and plunging profits forced several other investors to cut their exposure to the sector. Kumar's investment was unorthodox as insurers' exposure limits give them little elbow ...
ICICI Pru Life turns to IT, pharma after risky telecom bet payoff
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