The combined market valuation of eight of the top-10 most valued firms jumped Rs 2,10,330.26 crore in a holiday-shorted last week, with Tata Consultancy Services (TCS) and Life Insurance Corporation of India emerging as the biggest gainers. Last week, the BSE benchmark climbed 85.31 points or 0.10 per cent. The 30-share BSE Sensex hit its … Read more
State insurer Life Insurance Corporation of India (LIC) has increased its shareholding in IDFC First Bank to 2.68% acquiring the lender’s shares at a price of Rs 80.63 apiece. The total cost of acquisition is Rs 1,500 crore. The number of shares have been raised from 1.42 crore to 20 crore on a preferential basis, … Read more
Sanjeev Sanyal, Member, PMEAC, in conversation with ET Now at the sidelines of the India Global Forum (IGF), said Modi 3.0 will show absolute policy continuity. That can be seen in the choice of the cabinet ministers and various other things. The fact that Prime Minister Modi is back for the third term is an … Read more
The Insurance Regulatory and Development Authority of India (Irdai) recently declared that all life insurance savings products should offer a policy loan feature to assist policyholders with their financial needs. The master circular stated the facility of partial withdrawal under pension products is allowed enabling the policyholders to meet their specific financial needs for important … Read more
State-owned insurance giant Life Insurance Corporation (LIC) on Friday said it is not looking to enter the health insurance market by acquiring an entity. The company said that no formal proposal has been initiated in this regard. It further said that it would evaluate and explore various strategic opportunities in the ordinary course. “In this … Read more
With NDA coming into power, investors now feel more comfortable as they believe in the continuity of policies and structural reform framework. Ahead of the Union Budget 2024, dometic brokerage firm Chola Securities have made recommendations for the investors for a holding period till Union Budget 2025 as they foresee ever-rising tax and non-tax revenues … Read more
Siddhartha Mohanty, Chairperson, LIC, says they have moved from Rs 5,82,000 crore to Rs 7,27,000 crore and there’s a very huge growth in our India embedded value. It comprises all their businesses as well as other factors which contribute to growth, so that growth rate will continue and the market should trust us. Mohanty expects … Read more
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