Page 9 - Life Insurance Corporation

LIC shares surge 9% as profit soars 11-fold in Q2 to Rs 15,952 crore

The multifold increase in net profit was due to a change in its accounting policy, wherein it has transferred Rs 14,272 crore to the shareholders' account from the non-participatory account

LIC sees multifold increase in Q2 net profit at Rs 15,952 crore

This is due to transfer of funds from non-par to shareholders' account

LIC Q2 results: PAT rises 11-fold to Rs 15,952 crore; net income up 26%

The net income from investments for Q2 stood at Rs 84,103.64 crore, as compared to Rs 76,533.75 crore in the year-ago period

LIC buys additional stake in Voltas for Rs 635 cr via open mkt transactions

Life Insurance Corporation of India (LIC) has increased its shareholding in Voltas by buying an additional 2 per cent stake. LIC said it acquired Voltas' shares worth Rs 634.50 crore through open market transactions during the period from August 10 to November 4, 2022. The state-owned life insurer increased its shareholding from 2,27,04,306 shares (equivalent to 6.862 per cent) to 2,93,95,224 (8.884 per cent) in Voltas, according to a regulatory filing on Monday. Voltas is engaged in the business of air conditioning, refrigeration, electro-mechanical projects as an EPC (engineering, procurement and construction) contractor both in domestic and international market. Stock of LIC closed at Rs 633.30 apiece on BSE, up by 0.84 per cent, while Voltas scrip ended 1.24 per cent lower at Rs 834.40 apiece.

Disinvestment target for FY24 to be at a 'realistic level' of Rs 65K-crore

Centre's receipts from disinvestment till November in FY23 stand at Rs 24,544 crore

LIC Housing Finance stock comes under pressure on weak Q2 results

Improvement in interest income and margins crucial for investor sentiment to revive

CCI puts AGI Greenpac's acquisition of HNG on hold, seeks more details

On the CCI website, the notice filed by AGI Greenpac on September 27 regarding the acquisition, has been marked as 'Notice Not Valid'

BoB-backed IndiaFirst Life Insurance files DRHP with Sebi for IPO

The IPO will consist of a fresh offer of Rs 500 crore and an offer for sale of 141.2 million shares

IDBI Bank privatisation: LIC to recover its investment by time of sale

State-owned insurance behemoth LIC is expected to recover its Rs 21,624 crore investment it had made in IDBI Bank as share prices are likely to rebound to 2019 levels by the time the lender is privatised, an official said. The official said that since the commencement of the IDBI Bank privatisation process in May last year, the share price has jumped from Rs 35 a share to Rs 45 a piece currently. "We are expecting IDBI Bank scrip to move up further. The price is expected to move up closer to the price at which LIC had picked up stake in 2019," the official told PTI. The government and Life Insurance Corp (LIC) together hold 94.72 per cent in IDBI Bank. Of this, LIC's holding is 49.24 per cent, while the government holds the rest 45.48 per cent stake. Public shareholders hold 5.28 per cent. LIC had bought a 51 per cent stake in IDBI Bank in 2019 for Rs 21,624 crore at an average price of Rs 61 per share. Following a QIP issue in December 2020, the stake of LIC came down to 49 per ..

LIC's share in NHPC comes down to 5.2% from 7.2% over seven months

Country's largest insurer LIC on Wednesday said its shareholding in hydro power generator NHPC has come down to 5.2 per cent on sell down of shares over a period of time for a consideration of Rs 700.79 crore. Corporation's shareholding in NHPC Ltd has diluted from 72,62,11,315 to 52,26,11,195 equity shares, decreasing the shareholding from 7.230 per cent to 5.203 per cent of the paid-up capital of the company, LIC said in a regulatory filing. The state-owned insurer sold 20,36,00,120 shares of the company at an average price of Rs 34.42 apiece from March 17, 2022 to October 18, 2022. The shares were sold in open market sale in the ordinary course of transaction, which is an investment function. Listed companies are required to disclose about change in shareholding of 2 per cent and more. NHPC is involved in generation and sale of bulk power to various power utilities. Stock of LIC closed at Rs 607.15 apiece on BSE, down by 0.12 per cent; NHPC stock closed 4.29 per cent down at R

IDBI stake sale: To help the buyer, centre asks Sebi to ease norms

The government offered to sell a total of 60.72% stake in the IDBI bank, in early October

Growth, moderate valuations positive for ICICI Prudential Life Insurance

Value of new business growth and margins remained strong in Q2

I-banking fees dip in nine months to September as smaller deals dominate

Even some big-ticket deals such as the LIC IPO did not generate higher fees

LIC, Centre to sell 60.7% stake in IDBI Bank; DIPAM invites EoIs

DIPAM invites EoIs; last date to submit bids is Dec 16

Thrust on non-par products to yield desired results: LIC chief M R Kumar

We intend to sharpen the focus on bancassurance to steadily and considerably increase its volume, thereby its share in our business, said Kumar

LIC plans to increase agent strength by 40%, ramp up HR systems

India's largest insurer is also looking to revamp its human resources systems in its drive to make the oldest insurance company more technologically advanced, said people aware of the development

Govt bonds and immediate annuity plans: 2 options for retirement income

The first offers a guaranteed rate of return for long; the other secures income for the rest of your life

LIC hits lowest level since listing; shares down 32% from issue price

In the past three months, the stock of LIC has declined 3 per cent, as against 14 per cent rally in the benchmark index

Adani Enterprises hits new high, surpasses LIC, ITC in market cap ranking

At 09:30 am, with a market cap of Rs 4.31 trillion, Adani Enterprises stood at 12th position in overall market cap ranking on the BSE.

LIC stk hovers around June lows but analysts remain bullish, see 37% upside

he stock of India's biggest life insurer closed at Rs 655 apiece on the BSE on Friday, marginally above its record low of Rs 650, hit on June 20, 2022