Avoid insurance space unless there is clarity: Karvy Stock Broking Ltd

Ambareesh Baliga, VP, Karvy Stock Broking Ltd, in a chat with ET Now talks about insurance space.

In terms of insurance as a space and as a flavour do you think right now is not the right time to possibly enter into the space and probably even going short in the space could be a profitable move?

Possibly because looking as a sort of a band which is there, the sort of cream which they have earning over the last couple of years on ULIPs I think that will disappear overnight. That’s exactly what I said sometime back. So it doesn’t really make sense for investors to look at this space at least for a while unless there is clarity.