Top headlines: LIC Q4 PAT declines 18%; TaMo to acquire Ford's Sanand plant

Business Standard brings you the top headlines on Monday

LIC Q4 standalone PAT declines 18%, firm declares dividend of Rs 1.5

India's largest insurer Life Insurance Corporation of India on Monday reported 18% decline in standalone net profit of Rs 2,372 crore for the quarter ending March 31, 2022. It reported consolidated net profit of Rs 2,893 crore in Q4FY21.

Its net premium income rose 18% to Rs 1.44 trillion for Q4FY22 as against Rs 1.22 trillion in the year-ago period. Read more

Tata Motors to takeover Sanand plant; signs MoU with Ford and Gujarat govt

Tata Motors' subsidiary Tata Passenger Electric Mobility Limited (TPEML) on Monday signed a tripartite memorandum of understanding (MoU) with Ford India Private Limited and the Government of Gujarat for takeover of Ford's passenger vehicle manufacturing plant at Sanand.

Signed between Gujarat government's Additional Chief Secretary (ACS) - Industries, Rajiv Kumar Gupta, Tata Passenger Electric Mobility Managing Director, Shailesh Chandra and Ford India Pvt. Ltd.'s Transformation Officer and Country Head, Balasundaram Radhakrishnan. Read more

Sun Pharma posts net loss of Rs 2,277 cr in Q4, declares Rs 3 dividend

Pharma major Sun Pharma on Monday reported a surprise consolidated net loss of Rs 2,277 crore for the quarter ending March 31, 2022. It reported consolidated net profit of Rs 848 crore in the year-ago period.

The company reported one-time exceptional loss of Rs 3,936 crore in Q4FY22 due to Taro litigation settlement. Read more

20 bodies recovered from Tara Air plane crash site in Nepal's Mustang

Rescuers on Monday recovered 20 bodies from the wreckage site of the Tara Air plane that crashed in Nepal's mountainous Mustang district on Sunday with 22 people on board, including four Indians, minutes after taking off from the tourist city of Pokhara, officials said.

The turboprop Twin Otter 9N-AET plane belonging to Tara Air went missing on Sunday morning in the mountainous region of Nepal. Read more