GIC Re hits 20% upper circuit limit as government mulls privatisation
Thu, Feb 18, 2021 11:21 AM

GIC Re hits 20% upper circuit limit as government mulls privatisation

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General Insurance Corporation of India (GIC Re) shares got locked at the 20 per cent upper circuit limit on Thursday after the government was debating whether the reinsurer should also be divested. The finance ministry and Niti Aayog will together finalise whether the general insurer will be considered for privatisation. At present, the government holds an 85.78% stake in GIC Re.

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