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LIC assessing investment in Satyam

LIC assessing investment in Satyam
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First Published: Thu, Jan 08 2009. 02 53 PM IST
Updated: Thu, Jan 08 2009. 02 53 PM IST
By PTI
Mumbai: Public-sector insurer Life Insurance Corp (LIC), which holds 4.34% in the troubled IT firm, Satyam Computer Services, today said it is assessing the situation and will take a decision on its holding accordingly.
“We have 4.34% stake in Satyam Computer Services. We are concerned and will consider a decision according to how the situation develops,” LIC MD Thomas Mathew said.
“We are a long-term investor and we do not believe in any short-term investments. All our investments are on the basis of strong reasearch and we look at the fundamentals of the company we invest in. Satyam is a niche player,” Mathew, who is incharge of the investment, said.
The company was also concerned about Satyam and wants it to come up again, he said.
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First Published: Thu, Jan 08 2009. 02 53 PM IST