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Stocks to Watch today, Feb 9: LIC, Zomato, Airtel, Paytm, Hero Moto, ZEE

Stocks to Watch on Friday, February 9, 2024: LIC of India reported a 49.10 per cent year-on- year (Y-o-Y) growth in net profit, at Rs 9,444.4 crore, during Q3FY24

LIC Q3FY24 results: Net profit rises 49.1% to Rs 9,444.42 crore

During the July-September quarter of FY24, the insurer had reported a net profit of Rs 7925.015 crore

LIC Q3 results: Profit rises 49% to Rs 9,444 cr, total income at Rs 2 trn

State-owned insurer LIC on Thursday reported a 49 per cent jump in net profit at Rs 9,444 crore for the third quarter ended December 2023. The country's biggest insurer had a net profit of Rs 6,334 crore in the year-ago period, according to a regulatory filing. Its net premium income rose to Rs 1,17,017 crore in the third quarter of the current fiscal from Rs 1,11,788 crore in the same period a year ago. LIC's total income increased to Rs 2,12,447 crore in the latest December quarter compared to Rs 1,96,891 crore in the year-ago period.

LIC Mutual Fund Asset Management appoints Ravi Kumar Jha as MD & CEO

LIC Mutual Fund Asset Management on Tuesday announced the appointment of Ravi Kumar Jha as its Management Director and Chief Executive. Jha has worked for over 30 years with LIC and has handled diverse positions. He was serving as executive of corporate strategy till December 2023 at the company. The 57-year-old Jha holds a bachelor's degree in commerce from Ranchi University.

RBI approves HDFC Bank Group's proposal to acquire 9.5% in IndusInd Bank

The RBI has said that HDFC Bank needs to acquire major shareholding within one year from February 5, 2024, failing which the approval shall stand cancelled

LIC Housing Finance expects to report 15% improvement in FY25 loan book

The disbursements in third quarter of FY24 was at Rs 15184 crore 5 per cent lower from Rs 16100 crore in the year ago period

Life insurance policy terms, premium amounts detailed in one table

Such coverage is a necessary part of financial planning and companies have a range of products

HDFC Bank gains 2% as LIC gets RBI nod to raise stake in lender to 9.99%

LIC has been advised by RBI to acquire the aforesaid major shareholding in the bank within a period of one year that is by January 24, 2025

LIC becomes most valuable PSU firm, surpasses SBI in market valuation

Life Insurance Corporation of India (LIC) surpassed State Bank of India (SBI) to become the country's most valued PSU firm by market valuation on Wednesday. Shares of LIC climbed 3 per cent to reach its 52-week high of Rs 919.45 in intra-day trade on the BSE. However, later it pared the gains and ended 0.63 per cent lower at Rs 886.90. The stock of SBI fell by 1.67 per cent to Rs 626.15 apiece. The market capitalisation of LIC stood at Rs 5,60,964.05 crore, which is Rs 2,149.47 crore more than SBI's Rs 5,58,814.58 crore valuation. LIC stood at the ninth place in the ranking of top ten most valued firms. Reliance Industries is the country's most valued firm with a market valuation of Rs 18,42,160.54 crore followed by TCS (Rs 14,21,230.44 crore), HDFC Bank (Rs 11,66,888.98 crore), ICICI Bank (Rs 6,87,740.99 crore), Infosys (Rs 6,80,631.89 crore), Bharti Airtel (Rs 6,10,389.59 crore), Hindustan Unilever (Rs 6,02,388.21 crore), ITC (Rs 5,82,423.61 crore), LIC (Rs 5,60,964.05 crore) an

LIC at 20-mth high, nears listing day-lifetime high; up 69% from March low

LIC hit a 20-month high of Rs 895. It has recovered 69 per cent from its 52-week low level of Rs 530.20 touched on March 29, 2023

LIC receives notification for tax refund of Rs 25,464 crore for 7 AYs

The insurer noted that it will file an appeal with the before Commissioner (Appeals) against all the tax notices

LIC receives another Income Tax demand notice worth Rs 1,370.60 crore

The state-owned insurer received a demand order worth Rs 1,370.60 crore from the Income Tax authorities in Mumbai

LIC gets 2 tax demand notices worth Rs 3,529 crore from Mumbai officials

Life Insurance Corporation of India (LIC) on Thursday said tax authorities have slapped two demand notices aggregating to about Rs 3,529 crore on it. The corporation has received orders from Income Tax authorities regarding Income Tax demand issued by Assistant Commissioner of Income Tax, Mumbai, LIC said in a regulatory filing. LIC would file an appeal before the Commissioner (Appeals), Mumbai, against the said orders within the prescribed timelines, it said. There is no material impact on financials, operations or other activities of the corporation, according to LIC.

LIC drives new business premium growth in December 2023, shows data

Life insurance sector collects 44% higher premium

LIC ups stake in Navin Fluorine International to 5.04% from 4.79%

The shares of Navin Fluorine ended 3.1% lower on the BSE to close the day at Rs 3,500.20 a piece

LIC receives GST demand notice of Rs 663 crore from Chennai tax officials

Life Insurance Corporation of India (LIC) on Wednesday said tax authorities have slapped a demand notice of about Rs 663.45 crore on it for short payment of Goods and Services Tax (GST). The corporation has received communication/demand order for interest and penalty from Office of the Commissioner of CGST & Central Excise, Chennai North Commissionerate on January 1, LIC said in a regulatory filing. The demand pertains to wrong availment of Input Tax Credit (ITC) and non-payment on tax on turnover wrongly declared as non-GST supply in GSTR-1 for 2017-18, and 2018-19, it said. The corporation shall file an appeal before the Commissioner (Appeals), Chennai against the said order within the prescribed timelines, it said. There is no material impact on financials, operations or other activities of the corporation, it added. On Tuesday, the company received a demand order for interest and penalty of about Rs 116 crore for Telangana state for short payment of GST for 2017-18. The deman

LIC receives GST demand notice of Rs 116 crore for Telangana state

Life Insurance Corporation of India (LIC) on Tuesday said tax authorities have slapped a demand notice of about Rs 116 crore on it for short payment of Goods and Services Tax (GST) for 2017-18. The company has received communication/demand order for interest and penalty for Telangana state on January 2, LIC said in a regulatory filing. The corporation shall file an appeal before Joint Commissioner (ST), Hyderabad Rural Division against the said order within the prescribed timelines, it said. There is no material impact on financials, operations or other activities of the corporation, it added. The demand for Telangana came a day after LIC on Monday received a similar notice demanding about Rs 806 crore for short payment of GST for 2017-18 along with interest and penalty for Maharashtra.

LIC gets GST notice of Rs 806 crore; insurer says will file an appeal

The total includes GST worth Rs 365.02 crore, penalty of Rs 404.7 crore and interest of Rs 36.5 crore

LIC in discussion with RBI for access to debt data via CRILIC: Mohanty

Life Insurance Corporation (LIC) chairman Siddhartha Mohanty on Thursday said the state-owned insurer is "in active discussion" with the Reserve Bank of India and confident of getting access to central bank's debt database CRILIC. "It's an irony that despite being the largest debt investor, we don't have access to debt or the national debt database CRILIC. We are in active discussion with the regulator for the same and are confident of getting that access," Mohanty said at an economic conclave organised by SBI here. Central Repository of Information on Large Credits (CRILICS) is an RBI-run database of credit exposures of various lenders including those towards non-performing borrowers. Most of LIC's debt investments are in central as well as state governments' debt securities. The LIC chairman said that not having access to CRILIC data is a risk for the insurer as its liabilities are long-term while assets are short-term. The lack of access to CRILICS tilts the balance negatively

LIC board clears proposal to setup branch office in Gujarat's GIFT City

Life Insurance Corporation of India (LIC) on Tuesday said its board has approved a proposal to set up a branch office in the International Financial Services Centre, GIFT City, Gandhinagar, Gujarat. The board on Tuesday approved the proposal to set up a branch office at IFSC, LIC said in a regulatory filing. LIC's presence in the Gujarat International Finance Tec (GIFT) City-International Financial Services Centre (IFSC) will enable the company to expand its global business. At present, GIFT IFSC is the maiden international financial services centre in India. In an interview with PTI last month, LIC Chairman Siddhartha Mohanty had said "this will enhance our foreign operations". LIC has presence in 14 countries through branch offices, subsidiaries and joint ventures. The Corporation directly operates through its branch offices in Fiji (Suva and Lautoka), Mauritius (Port Louis) and United Kingdom (Watford). Besides, it has subsidiaries in Life Insurance Corporation (International