Lic Laps Up What Uti Sells

Whenever the Unit Trust of India (UTI) dumps stocks in the market, the Life Insurance Corporation of India (LIC) is there to pick up whatever it finds valuable. In fact, the UTI dumping effect would have a greater impact on the Bombay Stock Exchange sensex but for LIC.

The state-run insurance monolith is fast emerging as a counter-weight to UTI on the bourses. Playing the market is no longer a game between foreign institutional investors (FIIs) and domestic players.

Over 50 per cent of LIC