LIC HF

LIC chairman Siddhartha Mohanty has said that the insurer would enter into the health insurance segment and can explore inorganic options if such an opportunity arises. There are expectations that composite licences may be permitted by amending the Insurance Act. As per the Insurance Act, 1938, and the regulations of the Insurance Regulatory Development Authority of India (IRDAI), composite licensing for an insurer to undertake life, general, or health insurance under one entity is not allowed. LIC is not an expert in general insurance like fire and engineering but it can do health insurance, he said while sharing financial numbers for FY24. "Internal work is going on...we will explore inorganic growth in health insurance," he said. In February, a parliamentary panel suggested the introduction of a composite licence for an insurer to undertake life, general, or health insurance under one entity to increase the penetration of insurance in the country. The panel headed by BJP leader

HDFC, although qualified to be in the upper layer, has been kept out of the list as it is merging with HDFC Bank

LIC Housing Finance Ltd's net profit rose sharply by 503 per cent year-on-year to Rs 925.48 crore on back of uptick in net interest income, as against Rs 153.44 crore in the same quarter last year.

For borrowers with CIBIL score of 700 and above, the rate hike has been limited to only 20 bps, LIC Housing Finance said in a statement, adding that the revised rates are applicable from Friday

Stock fell 7.3% on Friday, but some analysts remain bullish on the firm

Under the issue, LIC Housing Finance will allot 4,54,00,000 shares to Life Insurance Corporation of India (LIC)

To raise equity capital through prefential issue to LIC

Visit the official website of LIC Housing Finance to know more

Despite its consistent show on asset quality and profit, the stock trades at a 15-45 per cent discount to rivals