After a rally of about 10% in Indian stocks over the past year, the nation’s second-biggest life insurer has one message for investors: it’s time to do some profit booking and reduce exposure in Indian stock market because valuations are looking stretched.
Gopalkrishna Shenoy, chief investment officer at SBI Life Insurance Co, believes that return to sound earning growth will take some time as there is fear about the outcome of trade war and India herself facing an economic slowdown.
SBI Life Insurance has investments primarily in large-cap stocks which have surged ahead of the small and mid-cap stocks this year.
