PSU Bets Give LIC A Rs 20,000 Crore Headache As Stocks Slide Up To 43%

This may well qualify as collateral damage. LIC, with more than 1 per cent stake in all but two of the 53 listed public firms, has taken a severe hit of over Rs 20,000 crore on its PSU portfolio so far this year, given a steep erosion in their market value. 
Nine out of every 10 listed PSU stocks have seen a fall of up to 40 per cent in their market value so far in 2018.  
PNB, which has lost 43 per cent of its market value this year after the Rs 12,000 crore Nirav Modi scam, has LIC as a key stakeholder with 13.94 per cent stake. The life insurer has lost Rs 2,500 crore in holding value after the steep fall at the counter. For Any More Information Please Visit : www.paceresearchindia.com and Call : 8817774774