Budget 2022: Insurance sector stays muted
LIC IPO will be expected shortly, and the government aims to raise about Rs 1,200 crore via IPO.
Finance Minister Nirmala Sitharaman, at the start of her speech, announced that LIC IPO will be expected shortly, and the government aims to raise about Rs 1,200 crore via IPO.
The insurance sector was widely anticipating a GST cut in the insurance products but to no avail. It looked like the insurance sector was majorly overlooked and the reflection of this was seen in the stocks.
HDFC Life, which was trading over 2 per cent in the morning, is trading flat now. SBI Life Insurance Company and ICICI Prudential Life Insurance Company have slipped over a per cent each.