LIC’s investment policy not affected by specific stock moves: Chief Mohanty on Adani saga

Siddhartha Mohanty, the chairperson of Life Insurance Corporation of India (LIC), said that the insurer’s investment policy is in place and that any specific stock movements won’t harm the company. Mohanty’s comments were in relation to LIC’s losses on investments in Adani Group stocks after a US-based report highlighted concerns over corporate governance at the conglomerate. LIC has since witnessed an upturn in the value of their investments. The insurer’s board has recently recommended a dividend payout of INR3 ($0.04) a share for FY20.