Page 9 - Lic

Reliance Capital lenders meeting today to address bidders concerns

The two bidders, Torrent Investment and IIHL, have raised multiple issues with the lenders and they want these issues to be settled

Congress questions LIC's 'increased' holding in Adani Enterprises

The Congress on Tuesday alleged that public-sector LIC is being "forced" to use its policyholders' funds to "bail out" the Adani group and stressed the demand for a JPC probe is "essential and urgent". Congress general secretary communications Jairam Ramesh claimed in a statement that Life Insurance Corporation of India (LIC) holding in Adani Enterprises, one of the listed companies of the Adani Group, at the end of June 2021 was 1.32 per cent and by the end of December 2022, it reached 4.23 percent. "The revelation that LIC's holding in Adani Enterprises has increased while its stock value has fallen sharply once again strengthens the case for a JPC (Joint Parliamentary Committee) to investigate the PM-linked Adani 'Mega Scam'," Ramesh said on Twitter. He said "serious questions" began to be raised about the Adani Group on January 24, 2023 "Now it turns out that LIC's holding in Adani Enterprises had further increased to 4.26 percent by the end of March 2023," he said. The LIC ha

Irdai names LIC, GIC as 'domestic systemically important' insurers

These were the same institutions that were identified as DSII in 2021-22

Adani share rout: LIC likely to put caps on investment exposure

"LIC is looking to have 'boundary conditions' on its investments that would limit its exposure to scrips," said the source

LIC plans investment exposure caps post Adani share rout: Reports

After the Adani group lost over $100 billion in valuation post scathing allegations by U.S.-based Hindenburg Research, state-run LIC was criticized for having over $4 billion exposure

Stocks to Watch: RVNL, BEL, HAL, Campus Activewear, Vedanta, PNB, IT cos

Stocks to Watch: IT stocks may remain in focus as Accenture reported a revenue of $15.81 bn in Q2, beating its guidance of $15.2-15.75 bn. The giant also announced it will lay off 19,000 employees

FSIB recommends Siddhartha Mohanty for LIC chairperson's position

Mohanty is already serving as the interim chairperson of LIC

CCI approves LIC AMC's acquisition of management rights over IDBI MF scheme

The proposed combination entails LIC AMC's acquisition of the rights to manage and administer the schemes of IDBI MF from IDBI AMC

High-value life insurance policy sales fail to pick up in Feb-March

This is despite a new tax being introduced from April 1

Stocks to watch: Cipla, Axis Bank, PNC Infratech, RailTel, Glenmark Pharma

Stocks to watch today: From Cipla to Axis Bank, here are top stocks to watch out in Wednesday's trading session

Change of guard at LIC: M Jagannath, Tablesh Pandey appointed MDs

M Jagannath and Tablesh Pandey named as managing directors of state-owned firm

LIC's debt exposure in Adani group companies dips marginally to Rs 6,183 cr

LIC's debt exposure in Adani group companies fell marginally to Rs 6,183 crore as of March 5 from Rs 6,347 crore as of December 31, 2022, Parliament was informed on Monday. In a written reply to the Lok Sabha, Finance Minister Nirmala Sitharaman said, "The Life Insurance Corporation of India (LIC) has informed that its debt exposure to Adani Group of Companies, was Rs 6,347.32 crore and Rs 6,182.64 crore, as on December 31, 2022, and March 5, 2023, respectively". LIC has a debt exposure of Rs 5,388.60 in Adani Ports and SEZ as of March 5. The exposure in Adani Power (Mundra) was Rs 266 crore, Adani Power Maharashtra Ltd - Phase I (Rs 81.60 crore), Adani Power Maharashtra Ltd - Phase III (Rs 254.87 crore), Raigarh Energy Generation Ltd (Rs 45 crore) and Raipur Energen Ltd (Rs 145.67 crore), as per the reply. Sitharaman said five public sector general insurance companies have informed that they do not have loan/credit exposure to the Adani Group of Companies. "Public Sector Banks ha

Managing director Mohanty named LIC interim chairperson as Kumar era ends

Takes charge on March 14 for three months, faces challenges of LIC's falling market share and share price, apart from depleted value of its holdings in Adani group

Life insurers' new biz premium down 17% in Feb, LIC collections shrink 32%

February is generally one of the busiest periods for life insurance companies

YES Bank share price flat as SBI's three-year lock-in period ends this week

YES Bank's stock is surrounded by a lot of speculations that the SBI may book at least partial profit and it may lead to more pressure on the stock

Had meeting with Adanis, happy about it: LIC chairman M R Kumar

LIC's exposure to the Adani group has been under scrutiny since the report by the US-based shortseller became public

Adani Group stocks jump after US-based investment firm GQG Partners bet

All 10 group stocks rally as market sees $1.87-bn investment as vote of confidence

Life Insurance Corporation recoups losses as Adani Group shares rise

State-owned Life Insurance Corporation (LIC) has recouped losses on its investment in Adani Group stocks after shares of the apple-to-airport conglomerate rose for the third consecutive session. LIC holds shares in seven out of the 10 listed companies of the Adani Group. The shareholding ranges from 1.28 per cent in Adani Green Energy Ltd to 9.14 per cent in Adani Ports & SEZ Ltd, according to information available on stock exchanges. The rout in the Adani Group shares that followed US short seller Hindenburg Research releasing a damning report on January 24 led to LIC's investments turning negative a week back. Against a purchase price of Rs 30,127 crore, the value of shares LIC held in the Adani Group dropped to Rs 29,893.13 crore on February 24. But the rally in the Adani Group stocks after investors poured in money has reversed the situation. The value of LIC's shareholding in the Adani Group stocks has risen by about Rs 9,000 crore since and at Friday's closing price, it ...

In a month, LIC stock down 15%, out of top 10 in market capitalisation

The state-owned insurer's market value is now down Rs 2.4 trillion, or 40 per cent, compared to initial public offering levels

LIC extends losing streak to 7th straight session, hits record low

LIC made stock market debut on May 17, 2022, and is trading 40 per cent below its issue price of Rs 949 per share