Life Insurance Corporation (LIC) often proves to be contrarion investor, understadably when it comes to investment is PSUs. LIC willingly (or maybe unwillingly) invests in PSUs when no one else does. And it has benefitted substantially on the investments it made in the last three years. In the list of top 10 companies which witnessed highest increase in stake by LIC there are six public sector banks (PSBs). Before the current market rally, these banks were in dumps selling at huge discout to book value. These investments possibly made at the bottom of the market cycle in completely out of favour companies are proving to be its most rewarding bets in recent years.