Shares of IDBI Bank rose 7% to Rs 94 in Thursday’s trade on BSE after the Reserve Bank of India (RBI) has reportedly given its ‘fit and proper’ approval on bidders for the Bank ahead of the Union Budget 2024. IDBI Bank has been up for privatisation for several years, and the govt had been … 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
Infrastructure and defence based mutual funds have dominated the returns chart in the first half of 2024, an analysis of the return charts showed. There were around 208 sectoral/thematic funds in the said period. The toppers in the list were from the infrastructure sector, defence sector and PSU sector. HDFC Defence Fund, the topper in … Read more
Hyundai Motor’s Indian business filed draft papers on Saturday for what could be one of India’s biggest initial public offerings (IPOs), which the South Korean automaker said was aimed at increasing its brand image and providing liquidity in the country. Here are some of India’s largest IPOs: * LIFE INSURANCE CORPORATION OF INDIA (LIC) State-owned … Read more
With the proposed changes in criteria for stocks to be eligible for the futures and options segment, around 25 stocks are likely to be excluded from the current list, while nearly 78 are likely to find place in the segment, according to analysts’ estimates. Sebi has proposed changes for the eligibility of F&O stocks which … Read more
Brokerage firm Investec maintained a buy rating on Hindalco, Nuvama initiated coverage on Inox Wind and Suzlon Energy with a buy rating respectively. Goldman Sachs has a neutral rating on LIC post-Q4 results.We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Investec on Hindalco Industries: Buy| Target Rs … 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
JP Morgan, the global brokerage firm, has upheld its ‘Overweight’ rating on LIC following the announcement of its Q4 results at a target price of Rs 1,340. This projection suggests a potential increase of 29% from the previous day’s closing price of Rs 1,035.8 per share. In its report, JP Morgan highlighted LIC’s strong performance … Read more
Mumbai: Life Insurance Corp. of India (LIC), the country’s biggest insurer, reported a 2.5% increase in net profit to ₹13,762 crore for the March quarter, with wage increases accounted for in the period preventing further expansion in the bottom line. The insurer reported profit of ₹13,421 crore in the same period last year. The solvency … Read more
Equity markets declined in a volatile trade on Wednesday. The 30-share Sensex declined 117 points to settle at 72,987 and the broader Nifty dipped 17 points to close at 22,200. Stocks that were in focus include names like Siemens India, which rose 6.33%, Oil India, which jumped 1.98%, and LIC, whose shares increased 6.82% on … Read more
