The Union Finance Ministry has recently notified the wage revision of LIC employees, which will benefit over 1.1 lakh employees in the state-run insurance company. The revision, which is about 17 per cent annual increase in the wages, with be applicable from August 1, 2022. The wage revision would see an annual implication of around … Read more
India’s largest domestic institutional investor Life Insurance Corporation of India (LIC) has reduced ownership in at least 80 stocks, including 16 PSUs, in the March quarter with the market value of its portfolio surging to Rs 14 lakh crore. LIC was seen cutting stakes in BHEL, SAIL, Coal India, Oil India, Mahanagar Gas, MOIL, SBI, … Read more
Four of the top 10 valued firms added Rs 1,71,309.28 crore to their market valuation last week with HDFC Bank and Life Insurance Corporation of India (LIC) emerging as the biggest gainers in line with an overall positive trend in equities. On the other hand, six companies from the top 10 pack took a Rs … Read more
Indian market is likely to consolidate on Wednesday tracking muted global cues. The Nifty future closed negative with losses of 0.11% at 22577 levels on Tuesday. India VIX was down by 3.56% from 12.08 to 11.65 levels. On the weekly options front, the maximum Call OI is placed at 22,500 and then towards 22,800 strikes … Read more
Buoyed by positive investor sentiment and listing gains, more companies have shown their appetite to raise funds through the primary market in FY24 compared to the previous year. About 76 companies accessed the public markets in FY24, raising nearly Rs 62,000 crore through mainboard IPOs. This is 19% higher than the Rs 52,116 crore mobilized … Read more
Benchmark indices rebounded on Wednesday amid a largely firm trend in global equities. The 30-share Sensex rose 89.64 points to settle at 72,101 and the Nifty climbed 21.65 points to finish at 21,839. Stocks that were in focus included names like LIC, which fell 1.21%, Zomato, which jumped 5%, and Bharti Airtel, whose shares rose … Read more
Shares of two PSU insurance companies – General Insurance Corporation of India and New India Assurance – rallied 14% each on Thursday to fresh peaks amid reports that the government may infuse capital into three state-owned insurers. Shares of General Insurance Corporation of India jumped 13.9% to a fresh 52-week high of Rs 466 while … Read more
Following a 14% downside seen in seven trading sessions after Q3 disappointment, shares of HDFC Bank on Monday jumped up to 2% to the day’s high of Rs 1,462.85 after investors took comfort in RBI’s approval to LIC to increase stake in India’s largest private sector lender to 10%. While the state-run insurance company may … Read more
Shares of Life Insurance Corporation (LIC) jumped nearly 5% and hit a 52-week high of Rs 895 on Tuesday. With today’s rally, the stock of this state-run life insurer also crossed its listing price of Rs 867 for the first time. LIC shares were listed on May 17, 2022, at a discount of 8.6% to … Read more
I’m a 37-year-old married person residing in Mumbai. I have bought an LIC endowment plan, Jeevan Saral, where I pay Rs 17,000 every month. As per the policy, I need to pay Rs 17,000/month (Rs 2 lakh/year) only for 15 years & then I will be paid Rs 2 lakh per year till 100 years … Read more