Investment chiefs at two Indian life insurance companies are keeping money in stocks despite selling by overseas funds that has put the nation’s benchmark index on course for a record monthly decline.
The S&P BSE Sensex has plunged 30% so far in March as the coronavirus-led wave of risk aversion has prompted foreign investors to dump local stocks at the fastest pace in at least two decades. The benchmark gauge is trading at 12.4 times 12-month estimated earnings, near its cheapest level since 2011.
Irdai directs cos to meet social sector obligations
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