Business
In a tepid market, LIC adds 4% and reaches a more than 3-month high.
The life insurance sector has been struggling in recent months as interest rates have remained low. However, LIC (Life Insurance Corporation) has been bucking the trend and has seen its stock price rise by 4% in the past week. This has taken the stock to a more than 3-month high.
LIC has been able to weather the storm better than its rivals due to its strong focus on customer service and its diversified product range. The company has also been aggressive in its marketing and has been able to maintain its position as the largest life insurer in India.
With the market looking tepid in the near-term, LIC is a good option for investors looking for a defensive play.
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