No law against investing in tobacco firms: LIC on ITC stake
LIC has defended its holding in ITC, saying this was a routine investment decision and that there's no law that prevents insurance firms from investing in tobacco firms. Earlier, Tata Trustsâ Managing Trustee R Venkataramanan filed a petition questioning the government holding stakes in tobacco companies. However, LIC said ITC stock was chosen due to its track record and performance.