LIC, SBI lead BFSI pack
In last 1 yr, shares of insurance major, largest lender gained 79%, 23% respectively
image for illustrative purpose
Infra In Focus
- Insurers increasingly considering infra investments
- As it’s ensuring stable, long-term cash flows
- Infra assets have defensive characteristics
- And also provide inflation-protected income
Mumbai: Shares of state-owned behemoth Life Insurance Corporation (LIC) have outperformed rivals like HDFC Life and ICICI Prudential Life as it placed bets on India’s growth sectors, including infrastructure, while the private sector concentrated bet on tech, consumer and consumer-related BFSI companies.
LIC’s stock has gained nearly 79 per cent from Rs620 on June 18, 2023, to Rs1,109.15 at the closing on Tuesday, according to stock exchange data. In contrast, HDFC Life gave a negative return, if Tuesday’s closing price of Rs646.55 on the BSE is compared to Rs666.55 a year back. ICICI Prudential Life Insurance Co delivered a return of 12 per cent, considering its stock price rise from Rs582 on June 18, 2023, to Rs654.10 on June 16, 2024.
