Amid intense scrutiny from short-sellers and regulators, Adani group stocks have seen a significant shift in their shareholder base: Relatively opaque foreign portfolio investors (FPIs) have given way to more recognisable investors and broad-based funds. The list of large public shareholders - those directly holding at least 1 per cent - is now dominated by entities, such as the state-owned Life Insurance Corporation (LIC), US-based GQG Partners, Abu Dhabi-based International Holding Company, and Qatar Investment Authority's INQ Holding.
The Bombay high court has ruled that LIC has to honour claims made by lenders, that is banks, non-banking finance companies and financial institutions, if an LIC policyholder defaults in repaying the loan to the lender.
These mutual funds from LIC have been steady performers since the last 5 years
Life Insurance Corporation of India lost more than 8 per cent market share after posting a marginal 1.93 per cent growth in business last fiscal, while private players grew by more than 153 per cent during 2003-04.
Unit Trust of India and Industrial Finance Corporation of India, which together hold around 23 per cent stake in LIC Housing Finance, are likely to exit from the company even as LICHFL is exploring possibility of a public offer.
Life Insurance Corporation scotched speculation of setting up or acquiring a bank on Wednesday but said it plans to enter credit cards business and manage pension funds.
The Supreme Court on Tuesday quashed the defamation complaint against Rashtriya Janata Dal leader Tejashwi Yadav over his alleged 'only Gujaratis can be thugs' remark after he agreed to withdraw the statement.
LIC's Rs 3,000 crore bid helped HAL reach the minimum 10 per cent dilution threshold required for listing, sources said
'Somebody was using somebody to make statements that will stir the stock market and lead to a surge.' 'A sudden surge and a sudden crash is always an ideal situation for people to make illicit gains and then siphoning off the money.'
LIC has proposed a consolidation of its real estate portfolio and is inviting bids from consultancy organisations.
Life Insurance Corporation on Friday launched two schemes -- a money-back children's plan 'Jeevan Anurag' and pension with endowment plan 'Jeevan Nidhi.'
The contract, which involves upgrade of LIC's front-end IT application programmes to make these accessible through the web, is said to be worth about Rs 200 crore, and will be done over five years. It is understood that most large Indian IT outsourcing companies, including TCS, Infosys and L&T Infotech, had competed for the contract. It was considered prestigious, not because of its size but because it involved a prestigious public sector organisation like LIC.
The country's biggest insurance company Life Insurance Corporation of India is planning to come out with an initial public offer by December 2005 to meet the stipulated IRDA norm of having a minimum paid-up capital of Rs 100 crore (Rs 1 billion
Life Insurance Corporation of India intends to pump in around Rs 1,05,000 crore into non-convertible debentures and equity in the current financial year, nearly 20 per cent more than the Rs 88,000 crore it invested in these instruments in 2008-09.
This is the highest cover offered by any insurance company, under any single employer-employee group life insurance policy in India, Thomas Mathew T, managing director, LIC, told media. The policy between Infosys and LIC was initated in 2002 with a uniform cover of Rs 10 lakh (Rs 1 million) per employee covering 12,000 employes for a total sum of Rs 1791 crore (Rs 17.91 billion).
The uncertainty over LIC's top job arose when former chairman TS Vijayan was denied an extension after his term came to an end on May 2.
The strategic sale of government and state-owned Life Insurance Corporation (LIC) of India stakes in IDBI Bank might encounter procedural delays, potentially pushing the timeline for expected financial bids to the third quarter of the current financial year (2023-24, or FY24), according to sources familiar with the development. Financial bids constitute the second significant step in the divestment process, following expressions of interest (EoIs) from potential bidders. In this phase, bidders are required to quote transactional fee as a percentage of the divestment proceeds, which are then added to the government's kitty after completion of the transaction.
The Life Insurance Corporation of India, who was supposed to launch the much-awaited Varishtha Pension Bima Yojana from Tuesday, has postponed the scheme indefinitely.\n\n
The state-owned life insurer Life Insurance Corporation of India has decided to introduce strict norms for agents in a move to arrest fraudulent and early claims (arising after first year of the policy). The corporation found that early claims arose due to poor underwriting and moral hazards.
To make its stock market investments transparent and avoid further controversy, Life Insurance Corporation (LIC) has discontinued deals that were first negotiated over the telephone and then executed on the stock exchange platform, according to brokers familiar with the matter.
The country's largest insurer Life Insurance Corporation will get about Rs 280 crore (Rs 2.8 billion) from the government for hiking its capital base and carrying out expansion.
The country's top life insurer, which has over four per cent stake in Satyam, however, ruled out joining the race for acquiring the troubled IT firm, either alone or with L&T.
LIC sold a total of 58,29,103 shares of the company aggregating 2.018 per cent stake between August 24, 2009 and November 11, 2012 through the open market, Maruti Suzuki India said in a filing to Bombay Stock Exchange.
The IRDA guidelines issued last month prohibits an insurer from investing more than 10 per cent in a company. LIC has invested more than Rs 1,300 billion in equities of different private and public sector companies. Prominent companies in which it holds over 10 per cent include Corporation Bank, Cipla, M&M, Maruti Suzuki, MTNL, Tata Motors, HPCL, Ranbaxy Labs, Oriental Bank, Dr Reddy's Labs, Tata Steel and Reliance Infra.
The ongoing weakness in the broader equity market is likely to weigh on primary market investor participation ahead, which has already begun showing signs of fatigue, analysts said. The spillover effect, they say, will continue as long as the midcap and smallcap segments remain volatile. "The effect will be felt in the IPO market. The subscription levels have come down in the last few days and recent 4-5 IPOs have not done well.
If you think that revenue officials are going berserk, acting on their own, while the government chants the mantra of 'ease of doing business', you would be wrong. These moves appear to have full official backing, points out Debashis Basu.
Following a cut in the interest rates by banks, LIC Housing Finance Ltd on Friday announced a special rate of 7.75 per cent on home loans for all terms.
The Life Insurance Corporation has decided not to nominate any retired employee as a director on the board of the almost 90 companies in which it has equity or loan exposure.
'One day I want to bowl the fastest ball in the world.'
This is a good opportunity for long-term investors to pick quality small and midcap stocks at reasonable valuations.
This year's investment in equities would be one the highest
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