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
Mumbai: Life Insurance Corporation of India (LIC), the country’s largest insurer, has received approval from the Reserve Bank of India (RBI) to increase its stake in HDFC Bank, the largest private lender in India. RBI has allowed LIC to acquire an additional 4.8% stake in HDFC Bank, raising its total stake to 9.99% by January … Read more
Stock markets snapped their five-day winning run on Tuesday amid weak global cues. The 30-share Sensex dropped 199 points to settle at 73,128 and Nifty closed lower by 65 points at 22,032. Stocks that were in focus included names like RIL, which fell 1.49%, LIC, which rose 4.5%, and Angel One, whose shares declined 13.5% … 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
The Indian market could consolidate at higher levels on Thursday amid the December F&O expiry. The Nifty future closed positive with gains of 1.01% at 21690 levels on Wednesday. India VIX was up by 5.98% from 14.68 to 15.55 levels. Volatility steamed to higher zones but created some momentum at lifetime highs. Positive setup was … Read more
LIC shares on Friday rallied 7.2% to hit a fresh 52-week high of Rs 820 on BSE after the Finance Ministry granted an extension to the PSU insurer for complying with 25% minimum public shareholding (MPS) norms till 2032. Sebi rules mandate all listed companies to maintain 25% public float but newly-listed companies are granted … Read more
