Sensex soars 1,345pts, Nifty tops 16,250; LIC ends 8% down at Rs 875 on BSE

CLOSING BELL: Shares of Life Insurance Corporation of India (LIC) listed at Rs 867.20 on the BSE, a 8.6 per cent discount when compared with its issue price of Rs 949 per share

3:15 PM

Abbott India spikes over 6% on healthy Q4 results

3:10 PM

Bajaj Electricals soars over 10% despite muted Q4 results

3:03 PM

Honda India Power surges 13%; stock hits over four-year high

The company remains confident of gasoline fueled engine and water pump business to perform well. It anticipates complete transition to gasoline from kerosene-powered products. READ HERE

2:55 PM

ALERT: Russia says not engaged in any discussions with Ukraine

2:36 PM

Moody's affirms Indiabulls HFC's B3 rating; upgrades outlook to 'stable'

The affirmation is driven by Indiabulls' strong capital, comfortable liquidity, declining profitability and weak asset quality. Read here

2:22 PM

European markets firmly rise in early deals

source: finance.yahoo.com

2:11 PM

Expert comment: Manoj Dalmia of Proficient Equities on LIC and insurance sector

LIC is the largest insurance provider company in India. It has a market share of above 66.2% in its segment. The company offers products like saving insurance products, term insurance products, health insurance, and annuity & pension products.

 

Today, the value of gross premiums collected by life insurance companies is over Rs 5 trillion  with insurance penetration levels as well as the density showing an upward trend.

Even then, India has a far lower insurance penetration rate compared to the global average, leaving much room for growth.

 

The government is also taking initiatives to boost the insurance industry. Recent initiatives include Ayushman Bharat Yojana and allowing 100% FDI inflows in insurance sector opening huge opportunities.

 

Globally embedded valuation is the main parameter for insurance companies SBI Life, HDFC Life and ICICI Prudential is between 2.4 to 4.05 against LIC's 1.1.

 

The long-term for LIC is bright provided it brings innovation in terms of digitisation and usage of new technologies like AI,ML. LIC is a dividend paying company and might be good choice in any portfolio for long-term.

Views by Manoj Dalmia, founder and director, Proficient Equities. 

2:01 PM

ITC gains 4% ahead of March quarter results on Wednesday

ITC is better-placed than peers with improving cigarette performance and strong earnings visibility, analysts. Read here

1:54 PM

Hyundai ties up with Tata Power to set up fast charging EV infrastructure

Under the collaboration, 60 kW DC charging stations will be installed at the company's 34 EV dealerships in 29 cities to cater to all kinds of electric vehicles. Read here

1:45 PM

Abu Dhabi's IHC completes Rs 15,400 cr investment in three Adani companies

International Holding Company PJSC (IHC) of Abu Dhabi on Tuesday completed its Rs 15,400 crore investment transaction in three Adani companies - Adani Green Energy (AGEL), Adani Transmission (ATL) and flagship, Adani Enterprises (AEL), a statement from Adani said. READ MORE

1:35 PM

Global Check:: US stock futures trade higher

Source: Investing.com

1:28 PM

WPI inflation hits 15.08% in Apr, in double-digits for 13th straight month

India’s wholesale price index (WPI)-based inflation rate rose to 15.08 per cent in April from 14.55 per cent in the preceding month on the back of rising commodity and vegetable prices. Read more

1:21 PM

BSE 500:: Volume Shockers

TVS Motor Company, MCX India, Solara Active, Indraprastha Gas and Glaxo Pharma were some of the prominent stocks to witness unusually high volume in trades so far on Tuesday.

1:07 PM

BSE Sensex 30 Heatmap:: Tata Steel, Maruti, ITC extend gains

12:59 PM

Aurobindo hits 2-year low; dips 11% in a week on USFDA's 6 observations

Analysts at ICICI Securities expect Aurobindo Pharma's adjusted PAT to de-grow 30.4 per cent year-on-year (YoY) to Rs 557.90 crore in the March 2022 quarter. READ MORE