The Centre could further moderate its divestment target for 2024-25 (FY25), as it does not expect large receipts from asset sales - except some ongoing strategic ones, including IDBI Bank, which could spill over into next financial year. Also, it may drastically reduce its FY24 divestment target of Rs 51,000 crore. "We are still evaluating the Budget estimates for FY25. "New big-ticket asset sales are unlikely.
IFCI, say sources, owes nearly Rs 500 crore in debt to LIC, which has the option to convert it into equity and take its total stake from 8.4 per cent now to 49%. IFCI's proposed strategic sale has attracted expressions of interest from 10 entities.
Thomas Mathew T, managing director, tells Manojit Saha and M Saraswathy about the LIC's strategy and growth plans.
Unfazed by competition from private players, state-owned Life Insurance Corporation of India on Tuesday said it has attained yet another landmark by bringing in 2.05 crore (20.5 million) lives under insurance cover till March 15.
The headline for corporate profit growth has been very encouraging in the July-September quarter (Q2) of 2023-24 (FY24), with the combined net profit of listed companies up by 38 per cent year-on-year. However, the earnings distribution has been very lopsided, with most of the growth coming from public-sector oil-marketing companies (OMCs), banks, non-bank lenders, automobile (auto) companies, and cement producers. By comparison, companies from information technology services, fast-moving consumer goods (FMCG), retail, and consumer durables were disappointed, experiencing a sharp slowdown in net sales growth and a relatively muted increase in reported net profit.
'Inter-ministerial coordination, information on the proposed PSUs, and due diligence are taking longer than expected to conclude the process.'
A plea has been filed in the Supreme Court seeking investigation under the supervision of a sitting apex court judge against the Adani group of companies in light of the allegations made by the US-based Hindenburg Research.
T S Vijayan, whose five-term as the chairman of government-owned Life Insurance Corporation of India (LIC) ended on Tuesday, is likely to shift to UTI Mutual Fund as the new head.
LIC is currently allowing customers to revive policies that have lapsed for more than two years.
In an interview with Shilpy Sinha and Sidhartha, LIC Managing Director DK MEHROTRA discusses the public sector player's strategy.
Her reasoning is simple, "It's a Tata company. No shareholder will let go of this opportunity," she told Business Standard. When asked if the other reason for lining up for the IPO is the technology sector and the fact that the combination of Tata and tech is happening after almost two decades, she replied: "The name of the company and the group matter. Tata means stability and credibility," she added.
Chief Economic Advisor (CEA) V Anantha Nageswaran on Tuesday said India is not defending the rupee and the Reserve Bank of India is taking necessary steps to ensure that the movement of the rupee is gradual and in line with market trends. Nageswaran further said that the rupee is being managed in a manner that reflects the fundamentals of the economy. "India is not defending the rupee... I don't think Indian fundamentals are such that we need to defend the rupee. "The rupee can take care of itself," he said at an event in New Delhi.
Shedding its image of a brick-and-mortar organisation, the Life Insurance Corporation of India (LIC) is all set venture into the digital era.
From the enactment of the capital control Act to the recognition of the BSE as a stock exchange and the infamous Harshad Mehta scam, here are the 18 biggest events for stock markets from 1947 to 1993.
Even though the Life Insurance Corporation of India increased its market share to 74 per cent in terms of total new business premium policies in March 2007, compared with 72 per cent in March 2006, it has lost market share.
rediffGURU Dev Ashish answers your personal finance and mutual fund queries.
Lapped up 157 mn shares worth Rs 4,000 crore between Jan 1 and Feb 8
'If they are not, then the Modi government should order a JPC immediately.'
The country's largest insurer Life Insurance Corporation, has decided to operationalise a system within two years that will allow policy holders to claim benefits and pay premium at any of its over 2,100 branches.
These stocks offer the best combination of maximum 'buy' recommendations from brokerages and share price upside over the next 12 months.
The Supreme Court on Wednesday agreed to hear on February 17 a fresh plea of a Congress leader seeking investigation under the supervision of a sitting apex court judge against the Adani group of companies in light of the allegations made by the US-based Hindenburg Research.
As many as 31 mainboard IPOs raised a cumulative Rs 26,272 crore in this period, according to Prime Database. During the April-September 2007 bull run, 48 IPOs totalling Rs 21,243 crore were launched. The number of deals in H1FY24 was 2.2 times that of the same period of the last fiscal year, but the amount raised was 26 per cent lower.
Ahead of Reserve Bank of India's 's slack season Credit and Monetary Policy, Life Insurance Corporation, one of the biggest players in the financial sector
Life Insurance Corporation of India (LIC), the country's biggest insurer, said it did not participate in Tata Motors' Rs 4,145-crore rights issue as the shares continued to trade below the offer price till the last day of the subscription today. The move resulted in the issue devolving on the promoters and the underwriter, JM Financial.
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