LIC remains wary of realty and telecom stocks: S Bandhopadhyay, equity investment chief

MUMBAI: India's biggest domestic institutional investor, Life Insurance Corporation of India (LIC), is bullish on oil and cement sector stocks which, it says, have the potential to outperform the benchmark indices. The country's biggest insurer, which has more than 12 lakh crore assets under management, will stay away from realty stocks, said S Bandhopadhyay, LIC's chief investment-equity officer.

The public sector behemoth will predominantly invest in companies with good corporate governance. "There are corporate governance issues in most of the companies. We are looking to invest in companies with good corporate governance," he said. LIC had pared its investment in Satyam Computer after the founder confessed of fraud. It later increased its stake and now holds 3.18% in the company.

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