Life Insurance Corp (LIC), public-sector insurer which holds 4.34% in the troubled IT firm, Satyam Computer Services, today said it is evaluating 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 research and we look at the fundamentals of the company we invest in. Satyam is a niche player,” Mathew, who is in charge of the investment, said.
The company also showed concern about Satyam and wants it to come up again, reportedly.