Five of the top-10 valued firms together lost Rs 30,737.51 crore in market valuation last week, with Limited taking the biggest hit. In the holiday-shortened week, the Sensex advanced 183.37 points or 0.30 per cent. While Reliance Industries, , , and were the laggards from the top-10 pack, , , , and () were the … Read more
Sebi has given its nod to 28 companies to raise funds totalling Rs 45,000 crore through initial public offerings (IPOs) in April-July period of 2022-23 which has already seen 11 debutantes raising over Rs 33,000 crore. Among the firms that have secured the regulator’s clearance include Lifestyle retail brand FabIndia; Bharat FIH, a subsidiary of … Read more
Eight of the 10 most valued firms together added Rs 98,234.82 crore in market valuation last week, with IT majors and emerging as the biggest gainers amid a positive momentum in equities. Last week, the BSE benchmark Sensex advanced 817.68 points or 1.42 per cent. From the top-10 pack, twins were the only laggards. The … Read more
Mumbai: Adani Enterprises has a ‘high chance’ of replacing Shree Cement in the benchmark Nifty in the semi-annual index review in September, according to Edelweiss Alternative & Quantitative Research. The changes in the index will be announced in the second half of August, and the rebalancing date would be on September 30. Abhilash Pagaria, head … Read more
Mumbai: Insurance behemoth (LIC) is likely to see a modest stock market debut on Tuesday as uncertain investor sentiment could restrict the opening day gain that some of the previous listings have seen. In the unofficial grey market, the stock is trading around ₹19 below its issue price of ₹949 per share. Though the discount … Read more
The cabinet approved a proposal to allow up to 20% foreign direct investment (FDI) in Life Insurance Corporation of India (LIC) through the automatic route, a move that will facilitate the insurer’s upcoming initial public offer (IPO), said people with knowledge of the matter. The existing FDI policy has also been “simplified and enhanced” to … Read more
NEW DELHI: Life Insurance Corporation of India (LIC), India’s largest life insurer and also a major player in the stock market, said its policyholders’ fund had equity investments of Rs 9,78,493.81 crore as of September 30, representing 24.78 per cent of the total Rs 39,49,516.37 crore worth investments. It stood at Rs 4,61,649.67 crore or … Read more
The government has selected leading global and Indian merchant bankers among 10 that will manage the initial public offer of Life Insurance Corporation of India (LIC), which is being pegged as the largest public listing for the Indian markets. The government has selected Goldman Sachs, JP Morgan, Citigroup, Nomura, Bank of America Securities, JM Financial, … Read more
Mumbai: Upcoming initial public offerings (IPOs) could add another $160 billion (over Rs 11.8 lakh crore) to India’s overall market capitalisation over the next 12-18 months, excluding Life Insurance Corporation of India, Credit Suisse said in the wake of strong equity fundraising via IPOs this year. “As non-IPO public equity raising is still low, and … Read more
Mumbai: New premium income at life-cover sellers fell 11% to ₹20,434 crore in July, the latest regulatory data showed, pointing to a subdued performance by the Life Insurance Corporation of India (LIC) that has a disproportionate market share even two decades after the country opened up the sector to private competition. IPO-bound LIC reported a … Read more