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The Latest Breaking News from LIC

‘Told my father to quit police job’: Inside Ram Manohar Lohia Hospital after the Parliament march

At 1 am, the emergency building of Delhi’s Ram Manohar Lohia Hospital has not gone quiet. One man waits outside the ICU for his sister to regain consciousness. On the floor below, others groan with an arm or a leg in a cast. A few hours ago, all of them…

Newslaundry

LIC rejects five life insurance claims saying policyholder hid diabetes: Court finds disease diagnosed only after buying the policies; orders over Rs 60 lakh payout

LIC rejects five life insurance claims saying policyholder hid diabetes: The National Consumer Disputes Redressal Commission has ordered LIC to pay over Rs 60 lakh to a Mumbai woman whose son died of a cardiac arrest in 2013, after the insurer rejected all five of his life insurance policies claiming…

The Economic Times

History test! What last 12 billion-dollar IPO listing gains indicate about SBI Funds' Rs 9,813 crore debut

SBI Funds Management is set to debut on the stock market on Tuesday, with an estimated 18% listing gain based on the current grey market premium. While its blockbuster subscription has raised expectations, history shows billion-dollar IPOs have delivered mixed outcomes. Winners like Eternal and ICICI Prudential AMC contrast with…

The Economic Times

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M-cap of five of top 10 most valued firms jumps Rs 1.54 lakh cr; TCS biggest winner

Last week marked a significant uplift in the market valuation of five of the top 10 firms, appreciating by Rs 1.54 lakh crore. Tata Consultancy Services claimed the spotlight, boosting its valuation by Rs 72,072.3 crore. ICICI Bank and Reliance Industries also experienced notable increases. However, the tide turned for…

The Economic Times

Stocks in news: Wipro, Jio Financial, HDB Financial, HDFC AMC, SBI

Indian markets experienced volatility, ending nearly unchanged amid mixed global cues. Several companies like Wipro and Jio Financial announced their first quarter results today. Angel One reported a strong quarter with significant year-on-year profit growth. HDB Financial and HDFC AMC also posted increased profits for the June quarter. SBI appointed…

The Economic Times

IDBI Bank shares jump 3% as Fairfax set to make biggest foreign investment in Indian lender, buy stake worth Rs 53,000 cr

Fairfax Holdings has been finalized for the IDBI Bank stake sale. This significant deal is expected to be worth approximately Rs 53,000 crore. The government plans to sell its stake, and LIC will also divest shares. Fairfax's offer of Rs 81 per share is higher than last year's bid. This…

The Economic Times

Mcap of 4 of top-10 most valued firms jumps Rs 92,995 cr; HDFC Bank, Airtel top gainers

Last week, four major firms experienced a significant market valuation increase of over Rs 92,000 crore, with HDFC Bank and Bharti Airtel leading the charge. Despite benchmark indices Sensex and Nifty dipping slightly and breaking their winning streak due to geopolitical tensions and escalating crude oil prices, the markets managed…

The Economic Times

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Govt employee earning Rs 1,100 salary buys Rs 53 lakh worth assets mostly in wife's name: Madras HC sends wife to jail despite divorce claim

A Tamil Nadu government school employee drawing a starting salary of Rs 1,100 per month quietly accumulated 21 properties, a marriage hall, agricultural land, and household assets worth Rs 53 lakh over 11 years, parking most of it in his wife's name. After a two-decade legal battle, the Madras High…

The Economic Times

LIC highlights stronger profitability, higher margins and digital push ahead of investor meetings

India's Life Insurance Corporation (LIC) has reported robust financial performance, with net profit soaring to $6.07 billion and margins improving significantly to 21.2%. The state-owned giant continues its market dominance, holding a 56.7% share in new business premiums. A strategic shift towards higher-margin non-participating products is driving this growth, alongside…

The Economic Times

M-cap of 6 of top-10 most valued firms surges Rs 1 lakh cr; Airtel, Bajaj Fin top winners

In the last week, Indian stock markets thrived, witnessing a remarkable Rs 1 lakh crore increase in the combined market valuation of six leading companies. The surge was largely attributed to Bharti Airtel and Bajaj Finance, which capitalized on favorable equity trends and robust domestic economic signals. Even though a…

The Economic Times

Govt fast-tracks disinvestment process to shore up revenues, garners 31% of budget aim in Q1 FY27

The government is accelerating its disinvestment and asset monetisation drive, achieving 31% of its full-year target in just the first quarter. This rapid pace, with weekly offers for sale, aims to bolster revenues amidst rising subsidy and import costs. Significant funds have already been raised from entities like Coal India…

The Economic Times

Govt lines up PSU stake sales to cushion budget hit from oil

India is accelerating plans to divest stakes in major state-owned entities, including the nation's largest insurer, Life Insurance Corp., to boost public finances. Hindustan Zinc and several banks are also slated for stake sales. Officials are actively engaging with investment bankers to gauge market appetite and finalize offerings, aiming to…

The Economic Times

Mcap of 6 of top-10 most valued firms climbs Rs 88,678 cr; ICICI Bank biggest winner

Indian stock markets saw a modest gain last week, with the top 10 companies adding Rs 88,678.1 crore in market valuation. ICICI Bank led the surge, followed by HDFC Bank and Reliance Industries. However, Bharti Airtel, TCS, and LIC experienced significant valuation drops. This positive market sentiment was attributed to…

The Economic Times

Stocks in news: LIC, IRFC, Cummins India, Tata Motors PV, ONGC

Indian markets surged on Wednesday, recovering previous day's losses, with banking stocks leading the charge from a strong support zone, signaling a robust uptrend. Key companies like LIC, IRFC, Cummins India, Tata Motors PV, and ONGC are in focus. IRFC's government offer saw strong institutional demand, while Tata Motors plans…

The Economic Times

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The Economic Times

LIC dividend alert! Last day to buy insurance behemoth’s shares for Rs 10 dividend

LIC has fixed June 25 as the record date for its Rs 10 final dividend, making today the last opportunity for investors to buy shares to qualify under the T+1 settlement cycle. The payout, subject to AGM approval, comes alongside broader dividend announcements across several listed companies.

The Economic Times

Smallcap stock jumps 24% in a week as NSE stake could be valued at Rs 850 crore

Maithan Alloys shares saw a significant jump on Thursday. This rally follows the filing of the National Stock Exchange's draft prospectus for its initial public offering. Maithan Alloys holds a stake in NSE, which is now valued at approximately Rs 850 crore. The NSE IPO is expected to be India's…

The Economic Times

Raamdeo Agrawal, Radhakishan Damani, Motilal Oswal, Dolly Khanna: The superstar investors sitting out the NSE IPO

While public sector entities like SBI cash in on decades-old NSE holdings for massive profits, prominent individual investors including Radhakishan Damani, Sunil Kant Munjal, and S. Gopalakrishnan are opting to retain their substantial stakes. LIC, NSE's largest shareholder, also remains a holdout, contrasting with other institutions realizing significant gains from…

The Economic Times

LIC won’t sell stake in NSE IPO OFS, betting on exchange's long-term potential

Life Insurance Corporation of India will not sell its stake in the National Stock Exchange's IPO. LIC holds a significant 10.7% stake in NSE. The insurer believes NSE has long-term value creation potential. This decision aligns with LIC's strategy of building substantial stakes in major Indian companies. NSE's growth and…

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The Economic Times

NSE IPO: 10 key things investors need to know about India’s largest IPO in history

The National Stock Exchange of India has filed its DRHP with SEBI for a long-awaited IPO expected to rank among India’s largest public offerings. The issue is entirely an offer-for-sale, with major shareholders participating. NSE highlighted strong financial performance, technology infrastructure and global leadership in equity derivatives.

The Economic Times

Mcap of eight of top-10 most valued firms surges by Rs 1.90 lakh cr; ICICI Bank shines

Indian equity markets ended a volatile week on a strong note. Eight of the top-10 most valued firms saw their market valuation surge by Rs 1.90 lakh crore. ICICI Bank led the gains, adding Rs 56,223 crore. This rally was supported by improving global sentiment and RBI measures. Investor confidence…

The Economic Times

LIC targets stronger market leadership as it approaches its platinum jubilee

LIC CEO R Doraiswamy stated the corporation will maintain its leadership in the life insurance sector and contribute to national development as it approaches its platinum jubilee. With a nearly 60% market share and substantial assets, LIC's growth is intertwined with India's economic progress, aiming to support the nation's 'Viksit…

The Economic Times

We don't even know where LIC's office is: Rajesh Exports chief amid regulatory heat

Rajesh Exports Chairman Rajesh Mehta clarified LIC's investment in his company, stating the insurer bought shares over two decades from the open market. He asserted neither promoters nor the company benefited from LIC's stake, emphasizing that ordinary retail shareholders are the ultimate gainers, regardless of LIC's potential losses or exit.

The Economic Times

LIC in talks with regulators on long-term instruments to match growing liabilities: CEO

Life Insurance Corporation of India is working with regulators like the Reserve Bank and Sebi. This is to increase long-term investment options. Inflows into LIC's annuity products are growing. The company is also considering a fintech arm. LIC is prepared for further stake dilution by the government. The government is…

The Economic Times

An Indian gold firm allegedly inflated revenue by $159 billion using its Swiss unit

Indian investigators allege Rajesh Exports overstated its Swiss unit Valcambi's revenue by a staggering $159 billion. SEBI's preliminary findings also point to missing documentation for African mine investments and fictitious trades. The company denies wrongdoing, calling the revenue interpretation misplaced. Shares fell following the probe's announcement.

The Economic Times

LIC buys Maruti Suzuki shares worth Rs 68 crore, insurer's stake in automaker crosses 5%

Life Insurance Corporation of India (LIC) has increased its stake in Maruti Suzuki above the 5% threshold after purchasing 51,750 shares through a market transaction. The move comes amid a decline in Maruti Suzuki's stock this year and reflects LIC's continued investment activity despite market volatility.

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