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LIC defends investment in tobacco major ITC

  • LIC, V K Sharma, ITC, LIC Chairman
    LIC Chairman V K Sharma speaks

    Public sector insurer LIC strongly defended its investments in tobacco major ITC

  • LIC, V K Sharma, ITC, LIC Chairman
    If LIC were to sell its stake in ITC, other investors stood ready to pick it up, he said.

    Announcing the company’s quarterly results on Tuesday, Chairman VK Sharma said that LIC is sensitive to protecting policyholders’ interests and giving them good returns in the long run.

  • LIC, V K Sharma, ITC, LIC Chairman
    closing price, the value of LIC’s stake in ITC stood at ?55,983.52 crore.

    A group of petitioners had filed a public interest litigation (PIL) last month seeking to force State-owned enterprises to offload their stakes in ITC, India’s biggest cigarette maker.

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