Page 8 - Lic

Life Insurance Corporation increases stake in SAIL by 2.001% to 8.687%

Earlier this week, LIC had raised its stake in IT firm Tech Mahindra Ltd by about 2 per cent through an open market acquisition

LIC raises Tech Mahindra stake by 2 pts via open-market acquisition to 8.8%

Life Insurance Corporation of India (LIC) has raised its stake in IT firm Tech Mahindra Ltd by about 2 per cent through open market acquisition. LIC bought 1.9 crore shares or 2.01 per cent of equity capital at an average price of Rs 1,050.77 per unit, the insurer said in a regulatory filing. The insurer bought the additional shares between November 21, 2022 and June 6, 2023 for about Rs 2,000 crore. Following this, holding in Tech Mahindra Ltd increased to 8.84 per cent, it said. Prior to the acquisition, LIC held 6.86 per cent stake in Tech Mahindra Ltd.

Tata Group is India's most valuable brand, Infosys and LIC follow

With a value growth of 10.3% in 2023 as compared to 2022, Tata Group became the only Indian brand with a valuation of over $25 billion

Train crash: LIC to open helpdesks at Bengal railway stations from Wed

Life Insurance Corporation of India (LIC) will open dedicated helpdesks at some railway stations in West Bengal from Wednesday to offer assistance to family members of those who lost their lives in the Balasore train accident for claim settlement. LIC Zonal Manager (East) Ajay Kumar said dedicated helpdesks at various railway stations, such as Howrah, Shalimar, Kharagpur and Medinipur, will be operational to offer spot assistance in addition to services from branches. "I am waiting for the list of the deceased from the railways so that we can contact their family members and deploy our resources for identification to settle claims. It will be an extended help to the family in this hour of crisis," Kumar told PTI. The life insurer had said it would expedite claim settlements to provide financial relief for the victims of the triple train accident in Odisha's Balasore on June 2. Over 275 people were killed and more than 1,100 passengers were injured in the train crash. More such ..

Robust LIC, SBI results exposed Congress conspiracy to weaken them: BJP

The BJP on Friday cited the strong financial performance of the government-run LIC and the State of Bank of India to assert that it has exposed the Congress' "conspiracy to weaken these institutions and harm the country". BJP leader and former Union minister Ravi Shankar Prasad said though the Congress claims to support the public sector, it ran a negative campaign targeting the Life Insurance Corporation of India and the State Bank of India. He noted that the Life Insurance Corporation profit in the March quarter stood at Rs 13,428 crore, a rise of 466 per cent. The SBI profit in 2022-23 was Rs 50,232 crore, a rise of 58 per cent, the BJP leader said. The Congress has been constantly running down these organisations as part of its "conspiracy" but their robust results have exposed the party, Prasad said.

TMSEp441: 9 yrs of Modi, EU's Meta fine, LIC stock, Sengol

How do nine years of Modi govt stack up? What does EU's Meta fine mean for big tech in India? Will LIC stock become a wealth creator for investors? What is Sengol? All answers here

Street gives a thumbs up to LIC's results; most analysts bullish on stock

Analysts see an upside of over 24% in insurer's stock in one year

LIC Q4 net rises fivefold to Rs 13,428 cr, net premium income dips 8.3%

The value of new business (VNB) margin for 2022-23 was 16.2 per cent (net) as compared to 15.1 per cent (net) in the previous year

At Rs 44,664 cr, LIC's Adani portfolio value up 54% from Hindenburg lows

The shareholding of LIC did not change between the December quarter and the March quarter, the exchange data shows

Market value of LIC investment in Adani Group stocks hit Rs 44,670 cr

Market value of investments made by state-owned Life Insurance Corporation of India (LIC) in seven companies of the Adani group has swelled to Rs 44,670 crore as stock prices rose from the lows seen in the aftermath of the Hindenburg report. The country's largest insurer and leading institutional investor in the Adani group has seen the market value of its holdings in Adani stocks increase by around Rs 5,500 crore since April, stock exchange data showed. LIC's biggest bet is Adani Ports & SEZ Ltd where it holds 9.12 per cent shares. At Wednesday's closing price of Rs 717.95 on the BSE, that holding is worth Rs 14,145 crore. Its 4.25 per cent stake the group's flagship Adani Enterprises Ltd is worth Rs 12,017 crore at Wednesday's closing price of Rs 2,476.90. LIC holds stocks worth about Rs 10,500 crore in city gas distribution firm Adani Total Gas Ltd and Ambuja Cement. Other Adani group firms where LIC holds stakes are Adani Transmission Ltd, Adani Green Energy Ltd and ACC. The .

Statsguru: Six charts explain LIC's stock listing pains amid headwinds

Private players have diversified ways of sourcing business, while LIC is more dependent on its agents

A subpar record

LIC's valuation is likely to remain compressed

Congress slams Modi govt over slump in LIC's market capitalisation

As the Life Insurance Corporation (LIC) marked one year since listing its shares on the stock exchanges, the Congress on Wednesday attacked the Modi government over the firm's market capitalisation reportedly taking a fall of about 35 per cent. The country's largest insurer LIC had this day last year listed its shares on the NSE and the BSE. In a tweet, Congress general secretary Jairam Ramesh said, "Exactly a year ago today, LIC was listed in the stock market. Its market capitalisation then stood at Rs 5.48 lakh crore. Today, this is down to Rs 3.59 lakh crorea fall of a whopping 35%!" "There is only one reason for this steep fallModani. In the process, lakhs and lakhs of policyholders have taken a serious hit," Ramesh said and tagged a screenshot of a media report which claimed that LIC share has wiped out Rs 1.9 lakh crore since listing. The Congress has been attacking the government over the fall in the value of LIC's holdings in the Adani Group and had asked who "forced" this

Govt appoints Siddhartha Mohanty as chairman of LIC till June 2024

Appoints Mohanty chairman until June 29, 2024; he'll then take over as MD & CEO

Centre appoints Siddhartha Mohanty as chairman of LIC till June 2024

On March 11 Centre had appointed Mohanty as the interim chairperson of the insurance behemoth

Market regulator Sebi bars five for front-running trades in LIC

In an interim order issued on Thursday, Sebi noted that Yogesh Garg, an employee in the investment department of LIC, and four others connected to him made unlawful gains of Rs 2.44 crore

LIC front running trade case: Sebi bans 5 entities from securities market

Sebi on Thursday barred five entities, including an employee of Life Insurance Corporation of India (LIC), from the securities market and impounded illegal gains of Rs 2.44 crore made by them, in a case pertaining to front-running the trades of the state-owned insurer. Also, they have been asked to "cease and desist" from engaging in any fraudulent, manipulative or unfair trade practice, including front-running. These five entities prohibited by Sebi are -- Yogesh Garg, who was working in the investment department of LIC through which trades on behalf of the insurer were placed; his mother Sarita Garg; his mother-in-law Kamlesh Agarwal; Ved Prakash HUF and Sarita Garg HUF, the capital markets regulator said in its interim order. Going by Sebi's order, Yogesh Garg is still professionally associated with LIC. Sebi has been informed by LIC that Yogesh Garg has been transferred from the investment department of the company to another department of the insurance firm. The five entities

LIC total premium rises 17% to Rs 2.32 trn from Rs 1.99 trn in FY23

Life Insurance Corporation (LIC) on Monday said its total premium rose 17 per cent to Rs 2.32 lakh crore during FY2022-23. The same stood at Rs 1.99 lakh crore in the year-ago period. In terms of premium collected, it continues to hold a market share of 62.58 per cent as on March 2023, LIC said in a statement. According to the Life Insurance Council data, private insurers have also collected a considerable amount of premium in March due to last-minute customer rush to benefit ahead of the April 1 withdrawal of tax exemptions for non-linked policies. LIC's premium growth for the fiscal 2023 is the second highest among its listed peers, with HDFC Life leading with 18.83 per cent, SBI Life at 16.22 per cent and ICICI Prudential Life Insurance Company at 12.55 per cent, it said. With regard to individual single premium, LIC witnessed a growth of 3.30 per cent and individual non-single premium grew 10 per cent, its group single premium grew 21.76 per cent to Rs 1,67,235 crore from Rs .

Lenders of Reliance Capital to meet on Monday to consider bidders' concerns

Ahead of the second round of auction scheduled on April 26, lenders of debt-ridden Reliance Capital (RCap) will meet on Monday to resolve concerns raised by bidders, sources said. Both the potential bidders, Torrent Investment and IndusInd International Holdings Ltd (IIHL) of Hinduja Group, have expressed multiple reservations on the proposed auction and its terms and conditions. According to sources, both the bidders have made it clear to the Committee of Creditors (CoC) that unless the issues raised by them are duly resolved to their complete satisfaction, they are unlikely to participate in the second round of auction. The COC is likely to meet again on Monday to address the concerns of bidders. Both the bidders want finality, certainty, transparency, no negotiation in value or on terms and conditions, after the second round of auction is over, they said. The two largest lenders of Reliance Capital -- Employees' Provident Fund Organisation (EPFO) and LIC are against giving any

LIC's knock-on effect: New business premium of insurers drops 12%

New biz premiums of private insurers jumps 35% in March, aided by pick-up in sales of high-value policies