The Parliament of India passed the Life Insurance Corporation Act on the 19th of June 1956, and the Life Insurance Corporation of India was ... Read more
The Parliament of India passed the Life Insurance Corporation Act on the 19th of June 1956, and the Life Insurance Corporation of India was created on September 1, 1956, with the objective of spreading life insurance much more widely and in particular to the rural areas with a view to reach all insurable persons in the country, providing them adequate financial cover at a reasonable cost.According to the LIC DRHP filed with SEBI, LIC is the largest life insurer in India, with a 64.1% market share in terms of premiums (or GWP), a 66.2% market share in terms of New Business Premium (or NBP), a 74.6% market share in terms of number of individual policies issued, a 81.1% market share in terms of number of group policies issued for Fiscal 2021, as well as by the number of individual agents, which comprised 55% of all individual agents in India as at March 31, 2021.LIC’s individual products comprise (i) participating insurance products and (ii) non-participating products, which include (a) savings insurance products; (b) term insurance products; (c) health insurance products; (d) annuity and pension products; and (e) unit linked insurance products. Group products comprise (i) group term insurance products, (ii) group savings insurance products; (iii) group savings pension products; and (iv) group annuity products. As at September 30, 2021, our Corporation’s group product portfolio in India comprised 10 group products.*Disclaimer Statement: This content is authored by an external agency. The views expressed here are that of the respective authors/ entities and do not represent the views of Economic Times (ET). ET does not guarantee, vouch for or endorse any of its contents nor is responsible for them in any manner whatsoever. Please take all steps necessary to ascertain that any information and content provided is correct, updated and verified. ET hereby disclaims any and all warranties, express or implied, relating to the report and any content therein.
- More than half of Nifty 500 stocks now in downtrend
- NPS assets under management to touch Rs 15 lakh cr by fiscal end: PFRDA Chairman
Stakeholders in India's National Pension System (NPS) launched the Association of NPS Intermediaries to boost the system's reach and subscriber welfare. With over Rs 13.7 lakh crore in assets under management, the NPS is gaining popularity as a retirement solution. The association aims to promote the NPS, improve its framework, and expand pension coverage throughout India. - ADVERTISEMENT
- Private equity not be-all of IPOs as non-PE backed companies deliver better long-term returns: IIFL Securities report
Over the past five years, financial services and fintech companies have driven the largest IPO wealth creation, contributing $140 billion to market capitalization. Key players include LIC, SBI Cards, IREDA, and PB Fintech. Other standout sectors were industrials ($75 billion), IT ($67 billion), and consumer discretionary ($67 billion). - Brookfield India REIT raises Rs 3,500 cr through QIP; IFC, LIC among key investors
- TV Mohandas Pai calls out government for failing to do enough for startups
Indian venture capitalist TV Mohandas Pai criticised the government's insufficient support for the startup ecosystem, highlighting the stark investment gap between India, the US, and China. He urged regulatory changes in insurance and pension sectors, suggesting these sectors with massive funds could invest in startups instead of low-yielding bonds. - LIC Golden Jubilee Scholarship Scheme 2024: Scholarship amount hiked up to 100% this year; know which courses get highest funds
LIC Golden Jubilee Scholarship Scheme 2024: Now Life Insurance Coporation of India (LIC) has increased the scholarship amount under this scholarship by up to 100%. Meritorious students pursing MBBS, BAMS, BHMS, BDS can get Rs 40,000 per annum under LIC Golden Jubilee Scholarship Scheme 2024. Similarly engineering students will get Rs 30,000 per annum. - ADVERTISEMENT
- LIC drags life insurers' November premiums by 4.5%
India's life insurance industry witnessed a 4.5% YoY premium decline in November 2024, primarily due to LIC's struggling performance. Private insurers, however, thrived with a 31% YoY surge, offsetting LIC's 27% drop. This contrasting performance follows eight months of overall industry growth, fueled by both LIC and private sector gains. - Sleeping giant HDFC Bank shares wake up with Rs 3 lakh crore rally
HDFC Bank's shares surged by Rs 3 lakh crore in six months, reclaiming its position as a top wealth creator. The bank's post-merger balance sheet is stronger, outperforming rivals with a 19% increase in share value. Brokerages predict further growth, setting target prices as high as Rs 2,550, driven by strong FII interest and resilient asset quality. - PM Modi sees women as agents of change to boost LIC reach
PM Modi launched the Bima Sakhi Yojana. The scheme aims to train 200,000 women as LIC agents. 25,000 women were appointed at the launch. Eligible women will receive a monthly stipend. The goal is to increase insurance penetration in India. The scheme empowers women and contributes to the developed India vision. - Security beefed up in Panipat for PM Modi's visit on Monday
PM Modi visits Panipat on Monday. He will launch LIC's Bima Sakhi Yojana. The scheme empowers women. He will also lay the foundation stone of a university. The university is Maharana Pratap Horticultural University. Around one lakh women will welcome the PM. The visit marks PM's commitment to women's empowerment. - LIC gave 35.9% returns in past year, outperforms market benchmark; is LIC a good buy now?
LIC reported strong first-half performance with growth in annual premium equivalent and value of new business, driven by non-par products and a robust agency force. The company aims to expand its non-par segment and enhance its distribution network while exploring entry into the health insurance market. LIC stock has outperformed the market benchmark in the past year. Should you invest in LIC now? - SBI and HUDCO among 6 PSU stocks Quant Small Cap Fund bought in November
In November, the smallcap fund boosted its holdings in 11 stocks, including Aditya Birla Fashion and Retail, Afcons Infrastructure, Aster DM Healthcare, BASF India, Bayer CropScience, Gujarat State Fertilizers & Chemicals, Jio Financial Services, Minda Corporation, RBL Bank, Reliance Industries, and Sequent Scientific - LIC Golden Jubilee Scholarship Scheme 2024 launched for these students; Know how it works and last date to apply on licindia.in
Life Insurance Corporation of India has launched LIC Golden Jubilee Scholarship Scheme 2024. LIC said this Golden Jubilee Foundation Scholarship Scheme 2024 is available on an India basis to students who have passed standard Xth/XIIth/diploma or equivalent examination with minimum 60% or equivalent CGPA grade in the academic year 2021-22, 2022-23, or 2023-24 and have taken First Year submission in the academic year 2024-25. - Year-ender 2024: 16 mid cap mutual funds offer over 30% return in 2024
- Life insurance employees' body demands withdrawal of GST on premiums
The All India Life Insurance Employees' Federation will launch a nationwide campaign seeking withdrawal of GST on insurance premiums and opposing any increase in foreign direct investment in the sector. The federation plans to approach MPs for support and also demands the withdrawal of new labour codes and reintroduction of the old pension scheme for LIC employees recruited after 2010. - Will IPRU and LIC outperform amid regulatory noise? Prayesh Jain answers
- Zomato, Paytm, Jio Financial among 55 stocks in focus as BSE revises circuit limits
Shares of Zomato, Paytm, Jio Financial, and 52 other companies will be in focus on Friday after BSE revised the circuit limits. The price band for 46 stocks, including Zomato, Paytm, and Nykaa, has been set to 10%. Four stocks will have a 5% limit, and five others will see their limits adjusted to 2%. - Stocks in news: RIL, PC Jeweller, Dr Reddy's, Enviro Infra Engineers, HDFC Life, SBI Life
- IRDAI seeks road maps to Dalal Street from large insurers
The Insurance Regulatory and Development Authority of India (IRDAI) encourages 10-12 large life and general insurance companies to pursue public listings within the next four to six quarters. The aim is to enhance governance and fund access in the capital-intensive sector, with insurers being urged to present IPO plans after consulting stakeholders. - Angel One shares may rally 24%, Rs 300 crore addition in revenue seen in FY27: Motilal Oswal
Motilal Oswal expects a 24% upside in Angel One, with a target price of Rs 3,600. The brokerage forecasts a revenue addition of Rs 250-300 crore in FY27 from new business segments like wealth management, AMC, and loan distribution. Angel One's focus on customer LTV and strong team are key growth drivers. - GQG hiked stake in 4 Adani stocks, LIC booked profit in 2 in Q2
- Deven Choksey on 2 themes to bet on in a volatile market
Market analyst Deven Choksey expresses strong optimism for India's renewable energy sector, particularly solar and wind power generation. While bullish on EPC and distribution prospects, he advises caution regarding the high valuations of renewable energy companies. Choksey also favors the insurance sector, particularly LIC, citing its strong financials and distribution network. - Information technology gets its mojo back with big September wins and October momentum
- India's Rs 10,000 cr-plus IPOs faced losses even after 1 month and a year. Will Swiggy buck the trend?
- Buy Life Insurance Corporation, target price Rs 1,200: Motilal Oswal Financial Services
Motilal Oswal Financial Services recommends buying shares of Life Insurance Corporation of India. They project a target price of Rs 1,200. LIC, a major player in the insurance sector, is expected to see growth in profitable areas like protection and savings annuity. The company's focus on new products, digitalization, and partnerships will likely drive this growth. - LIC books profit in more than 100 stocks as bears outnumber bulls
India's largest institutional investor, LIC, has reduced its stake in over 100 NSE-listed companies, reaching a record low ownership of 3.59%. This move comes amidst a volatile market where FIIs have withdrawn significantly, impacting the Nifty. Despite this, experts believe India's valuation remains reasonable, with earnings growth expected to continue. - Hot stocks: Brokerage view on Aarti Industries, Britannia, LIC and Hindalco
- LIC drags down life insurers' new business by 42% in Oct
- Low-risk investors can eye FMCG sector for 12-15% return: Sandip Sabharwal
Insurance as a sector which has that fits and starts and a sector which was always seen as a rising sector but has disappointed in terms of the earnings delivery actually if you see overall over the last few years. So, as a sector, I do not see it as a very exciting sector in the near term, at least the life insurance sector. - LIC policy restructuring: Congress MP Manickam Tagore raises concern, writes to FM Sitharaman
Congress MP Manickam Tagore has written to Finance Minister Nirmala Sitharaman expressing concerns about recent LIC policy changes. Tagore argues that the changes negatively impact agents and policyholders, particularly in rural and low-income communities, by increasing premiums, reducing commissions, and lowering bonus rates. - IndusInd Bank, IDFC First Bank among 10 stocks that LIC bought in Q2
- NSE Q2 Results: Profit jumps 57% YoY to Rs 3,137 crore, revenue rises 24%
- This 200-year-old LIC building in Kolkata has withstood quakes, famine, storms and could still survive another century
- Q2 results this week: Tata Motors, Tata Steel, M&M, Trent, SBI among 170 companies to announce earnings
The second quarter earnings season is underway and as many as 170 companies will declare their results this week. Some of the marquee names include Titan, Asian Paints, PB Fintech, IRCTC, IRFC, RVNL, Mazagon Dock Ship, Tata Steel, Mahindra & Mahindra, Trent, LIC, MRF, Tata Motors, and SBI among others. - Mcap of 6 of top-10 most valued firms jump Rs 1 lakh cr; State Bank, ICICI Bank top gainers
The combined market value of six leading firms increased by Rs 1,07,366.05 crore last week. State Bank of India and ICICI Bank saw the highest gains. However, Tata Consultancy Services, HDFC Bank, Bharti Airtel, and Infosys faced a decline in their market valuation. Reliance Industries remained the most valuable company in India. - US election, Q2 earnings, Fed meet and 5 more factors to likely impact stock markets this week
"The domestic market showed positive reversal signs this week, aided by festive sentiment, steady institutional inflows, and declining oil prices," said Vinod Nair, Head of Research at Geojit Financial Services. Market sentiment was also uplifted by easing geopolitical tensions and positive India-China relations. - ETMarkets Smart Talk: Capex, industrials, energy transition, and pharma among top bets till next Diwali: Rakesh Parekh
- ETMarkets Smart Talk | FMCG and IT sectors look promising for next Diwali, PSU valuations stretched: Harjeet Singh Arora
- Hyundai K-drama flops on D-Street. Is the largest IPO tag a crown of thorns?
Hyundai India's IPO launched with a loss, despite high ratings from multiple brokerages. Shares fell up to 6%. Previous large IPOs like Paytm and LIC also faced similar debuts. High IPO size and valuations were major factors. Despite this, Hyundai remains strong due to its market position and strategic focus on the SUV segment. - Court ruling pronounced in keenly-watched case of MCD staffer whose policy lapsed for no fault of his own
A consumer court has ordered LIC and MCD to pay Rs 4.8 lakh, plus Rs 60,000 for compensation and litigation expenses to the family of a deceased cleaning staff member. The court found both parties responsible for failing to inform the staff about the consequences of unpaid premiums, leading to a lapse in insurance policies. - Hyundai Motors India shares todays: A look at 2024's biggest, best and worst IPOs
- At just 50%, Hyundai sees worst retail subscription among India's 5 biggest IPOs
- 5 out of 6 mega IPOs have destroyed wealth. What’s in store for Hyundai IPO investors?
- Waiting for Sept quarter results to be out before picking any stock: Deepak Shenoy
Deepak Shenoy of Capital Mind discusses market tracking strategies during the earnings season, focusing on cautious positions and awaiting quarterly results. He highlights interest in sectors like electric vehicles and manufacturing. Shenoy mentions increasing stakes in select large caps and holding positions in interests like Mazagon Dock, despite market corrections and volatility. - Large IPOs typically signal market peaks but this time might be different
The Indian stock market has evolved, especially with IPOs, which raise capital without adding debt. Regulatory changes like ASBA have streamlined IPO processes, enhancing liquidity and investor confidence. However, large IPOs can still impact market dynamics by shifting supply and demand post-listing. - Private Life insurers outshine LIC in September
India's life insurance sector experienced a 14% year-on-year growth in new premium collections last month. Private insurers saw a 16% increase, outpacing LIC's 12% rise. Among private players, ICICI Prudential Life and Max Life recorded notable growth. This comes amid regulatory changes in surrender charges and increased interest in unit-linked insurance plans. - Private Life insurers outshine LIC in September
India's life insurance sector experienced a 14% year-on-year growth in new premium collections last month. Private insurers saw a 16% increase, outpacing LIC's 12% rise. Among private players, ICICI Prudential Life and Max Life recorded notable growth. This comes amid regulatory changes in surrender charges and increased interest in unit-linked insurance plans. - MFs hike stakes in Axis Bank, Adani Ports, 8 other largecaps in Q2
- Bank of Maharashtra stock in focus after LIC raises stake via QIP
- Regulator seen nudging insurance cos to listRegulator seen nudging insurance cos to listThe Insurance Regulatory and Development Authority of India (Irdai) is encouraging insurance companies, especially those operating for over a decade, to go public. By engaging with senior executives, Irdai aims to enhance corporate governance and unlock greater value through public listings.
- LIC increases stake in Bank of Maharashtra from 4.05% to 7.1% via QIPLIC increases stake in Bank of Maharashtra from 4.05% to 7.1% via QIPLife Insurance Corporation of India (LIC) has increased its stake in Bank of Maharashtra, the company informed the exchange in a filing.
- LIC eyeing strategic stake in standalone health insurance companyLIC eyeing strategic stake in standalone health insurance companyThe health insurance sector is now the fastest-growing segment in the country's insurance industry, driven by rising healthcare costs and increasing awareness of the need for coverage.
- India’s biggest IPOs by issue size
- Premium may rise, agent commission could decline as revised surrender value kicks in from TuesdayPremium may rise, agent commission could decline as revised surrender value kicks in from TuesdayInsurance premiums may rise or agent commissions might be reduced due to new IRDAI guidelines for revised surrender values aimed at providing better returns to early-exit policyholders. Insurers are adapting to meet these norms, potentially causing volatility in premium costs.
- Hyundai's mother of all IPOs: Where the carmaker stands, where it's headedHyundai's mother of all IPOs: Where the carmaker stands, where it's headedHyundai Motor India Ltd has received approval from the Securities and Exchange Board of India for its initial public offering, aiming to raise at least $3 billion. This IPO will be the largest ever in India, surpassing LIC's previous record. Hyundai plans to use the funds to enhance production capacity and develop new products.
- CoRover AI secures $4 million in funding round led by Venture CatalystsCoRover AI secures $4 million in funding round led by Venture CatalystsThe funding will enable CoRover to further develop its technology, expand its team of AI experts, and accelerate its go-to-market strategy, CoRover said in a statement. It added that the company plans to focus on enhancing its enterprise (B2G and B2B), B2B2C, and B2C offerings, while also exploring new revenue streams.
- Mcap of 6 of top-10 most valued firms jumps Rs 1.97 lakh cr; ICICI Bank, HDFC Bank major winnersMcap of 6 of top-10 most valued firms jumps Rs 1.97 lakh cr; ICICI Bank, HDFC Bank major winnersThe BSE benchmark soared 1,359.51 points or 1.63 per cent to settle at an all-time high of 84,544.31 on Friday. During the day, it jumped 1,509.66 points or 1.81 per cent to hit the lifetime intra-day peak of 84,694.46.
- Reliance Infra pares debt to Rs 475 crore after settlement with ARCs, LICReliance Infra pares debt to Rs 475 crore after settlement with ARCs, LICReliance Infrastructure Ltd, controlled by Anil Ambani, has significantly reduced its debt from Rs 3831 crore to Rs 475 crore after settling dues with multiple creditors. The company cleared outstanding amounts with Invent Assets Securitisation and Reconstruction, LIC, Edelweiss Asset Reconstruction Company Limited, ICICI Bank, Union Bank, and other lenders.
- Technical glitches rob many of chance to make money in Bajaj Housing IPOTechnical glitches rob many of chance to make money in Bajaj Housing IPOBajaj Housing Finance's IPO saw a strong debut, but technical issues led to the disqualification of nearly 14 lakh applications. Most rejections were due to UPI-related glitches, affecting investor participation. The company received a record 89.07 lakh applications, with 74.46 lakh deemed eligible after rejections.
- Infosys ties up with LIC to push digital transformationInfosys ties up with LIC to push digital transformationInfosys has been chosen by Life Insurance Corporation (LIC) to lead its digital transformation with the NextGen Digital Platform. This initiative, called DIVE, aims to provide omnichannel engagement and hyper-personalised experiences for LIC's customers, agents, and employees. Infosys will use its AI and cloud services to enhance LIC's operational capabilities.
- Stocks in news: IRCTC, Patanjali Foods, SBI Cards, BLS International, Tata PowerStocks in news: IRCTC, Patanjali Foods, SBI Cards, BLS International, Tata PowerDomestic markets hit a new high, gaining nearly two percent. Key stocks in focus include IRCTC, Patanjali Foods, SBI Cards, BLS International, and Tata Power due to various developments. LIC increased its stake in IRCTC to 9.3%, while SBI Cards plans to raise Rs 5,000 crore. BPCL approved two joint ventures for energy transition initiatives.
- LIC hikes stake in IRCTC to 9.3%LIC hikes stake in IRCTC to 9.3%Life Insurance Corp (LIC) on Thursday said it has hiked its stake in Indian Railway Catering and Tourism Corporation (IRCTC) to about 9.3 per cent. In a regulatory filing, LIC said its holding in railway sector 'miniratna' PSU has increased 2.02 per cent in the period December 16, 2022, to September 11, 2024, via open market purchases.
- Atul Suri bets on IT, pharma and FMCG for next six monthsAtul Suri bets on IT, pharma and FMCG for next six monthsBut the thing that really stands out for me at the moment are the things that I am working on, which takes up my time, is essentially the allocations to pharma, IT and FMCG and identifying stocks in that place.
- Will US elections influence Federal Reserve's interest rate decision? Santosh Rao answersWill US elections influence Federal Reserve's interest rate decision? Santosh Rao answers?And today we saw the Nvidia CEO at the Goldman Conference, he had some good commentary on the semiconductor space, so that triggered the whole rally. And Nvidia has always been the leader of the pack, so the semiconductors rallied there as well.
- 4 sectors Rahul Singh is bullish on for next 2 years4 sectors Rahul Singh is bullish on for next 2 years?If you look at last three months' performance, the defensives have made a comeback and now we are at a stage where the valuation of those sectors have also moved up and therefore the bottom-up stock selection in general in the market is going to become much-much more important over the next 12 to 18 months.
- Mihir Vora on impact rate cuts & crude prices will have on global growthMihir Vora on impact rate cuts & crude prices will have on global growth?So, India versus the rest of the world story continues. Of course, if the world really dips very sharply, then we will not be unaffected. But as of now, that is not the base case. We are expecting a soft landing in the US, which is okay for India. The theme, of course, continues to be within India, to stick to the domestic linked segments, not so much for the export linked segments or the globally exposed segments like energy, chemicals, metals, etc.
- GST status quo disappoints traders, insurance bulls run for coverGST status quo disappoints traders, insurance bulls run for coverTraders reduced their bullish bets on insurers after the GST Council left rates on insurance products unchanged. HDFC Life, ICICI Prudential Life, and ICICI Lombard saw declines. The industry is lobbying for a rate cut from 18% to 12%. A group of ministers will review the proposal before the next meeting in November.
- We will see extended bull market in commodities soon: Digant HariaWe will see extended bull market in commodities soon: Digant Haria?The sector is healthy, the credit cost uptick, I am not too worried about credit costs going up except for microfinance and very small ticket personal loans. We are still very healthy. Interest rates will peak out in India or probably have peaked out and we will see some easing of liquidity. So, this sector will give a 10-20% of upside as a macro trade in the next six months.
- LIC outperforms private peers in new premium mop-up in AugustLIC outperforms private peers in new premium mop-up in AugustThe life insurance industry experienced significant growth in new business income in August, driven by the state-run Life Insurance Corporation. The industry collected ?32,644 crore in total premiums, marking a 22% increase from the previous year. Private insurers also saw growth, although new rules on surrender value and agent commissions may impact future sales.
- China’s slowdown stalling commodities rally despite weak dollar: Sandip SabharwalChina’s slowdown stalling commodities rally despite weak dollar: Sandip SabharwalSecondly, we have been somewhat resilient on most global falls. So, if you see many of the Asian indices, they are now actually YTD negative, whereas we are still mid-teen positive and that has taken our valuations much-much higher than most other emerging market valuations.
- LIC among Motilal’s 5 top life insurance picks, forecasts upside potential up to 25%LIC among Motilal’s 5 top life insurance picks, forecasts upside potential up to 25%Looking ahead, the domestic brokerage firm believes that the forthcoming regulations, such as risk-based solvency and IFRS, are expected to positively influence financials by releasing capital that can be utilized for growth and for retaining a larger share of business, particularly in the protection segment.
- Are FMCG and pharma the safest pockets to bet on now with the best risk-rewards? Gurmeet Chadha answersAre FMCG and pharma the safest pockets to bet on now with the best risk-rewards? Gurmeet Chadha answersGurmeet Chadha from Complete Circle Consultants discusses the potential impact of the Biosecure Act on pharma and CDMO companies, rural spending boosts in FMCG due to Maharashtra elections, and the festive season. He also highlights market rotations towards IT, pharma, and FMCG sectors amid macroeconomic stability and upcoming rate cuts.
- Patient investors could subscribe to GIC’s two-day OFSPatient investors could subscribe to GIC’s two-day OFSRetail investors can consider buying General Insurance Corporation shares in the ?4,701-crore offer for sale on Thursday. Analysts suggest long-term holding for potential gains. The government is selling 6.78% of its stake, reducing its holding to 79%. GIC shares have risen 27% in 2024, outperforming the Nifty 500 index.
- Govt gets Rs 2,413 cr dividend from BPCLGovt gets Rs 2,413 cr dividend from BPCLThe government has received Rs 2,413 crore in dividends from BPCL, adding to the Rs 15,389.14 crore received this fiscal year from CPSEs, including Indian Oil Corp, ECIL, Power Finance Corp, and TCIL. With a target of Rs 56,260 crore, the government aims to increase collections from public sector enterprises compared to the previous fiscal.
- F&O traders could get 80 new stocks to playF&O traders could get 80 new stocks to play"The real excitement kicks in if F&O inclusion for both these names happens within the next few months," said Nuvama Alternative's head Abhilash Pagaria. "This could pave the way for Zomato and Jio to enter the Nifty 50 in the March 2025 review."
- UK based Aviva conspired to dodge India compensation and tax rulesUK based Aviva conspired to dodge India compensation and tax rulesAn Indian tax investigation has revealed that British insurer Aviva breached commission regulations by using fake invoices and untracked cash payments. Between 2017 and 2023, Aviva's India business paid $26 million to entities claiming to provide services but were actually fronts for funneling money to sales agents, evading $5.2 million in taxes.
- Stocks in news: SpiceJet, CDSL, RIL, LIC, Shipping Corp, NTPCStocks in news: SpiceJet, CDSL, RIL, LIC, Shipping Corp, NTPCAviation watchdog DGCA decided to place SpiceJet under enhanced surveillance that will entail increased spot checks and night surveillance to ensure the safety of the airline's operations.
- Indian government gets Rs 5,091 crore dividend from IOCIndian government gets Rs 5,091 crore dividend from IOCThe government has received about Rs 5,091 crore from Indian Oil Corp as dividend, the Department of Investment and Public Asset Management (DIPAM) said on Thursday.
- Govt gets Rs 5,091 crore dividend from IOCGovt gets Rs 5,091 crore dividend from IOCThe government has received a dividend of around Rs 5,091 crore from Indian Oil Corporation, as per the Department of Investment and Public Asset Management. So far, Rs 10,604.74 crore in dividends have been collected from CPSEs for the 2024-25 fiscal year. LIC also contributed a dividend of Rs 3,662.17 crore for FY2023-24.
- LIC hands over Rs 3,662 cr dividend cheque to govtLIC hands over Rs 3,662 cr dividend cheque to govtLIC also paid an interim dividend of Rs 2,441.45 crore on March 1, 2024, thus totaling Rs 6,103.62 crore dividend paid to the Centre for the year 2023-24. LIC, which completed 68 years since its incorporation, has an asset base of over Rs 52.85 lakh crore.
- Indian government gets Rs 3,662 crore as dividend from LICIndian government gets Rs 3,662 crore as dividend from LICLife Insurance Corporation of India (LIC) has paid the Indian government a dividend of Rs 3,662.17 crore, its largest shareholder. This payment follows a final dividend declaration of Rs 6 per share for FY 2023-24, totaling Rs 6,103.62 crore for the year.
- LIC gets GST notice of Rs 605 crore for wrong availment and short reversal of ITCLIC gets GST notice of Rs 605 crore for wrong availment and short reversal of ITCLIC has received a GST notice amounting to Rs 294 crore and a penalty of Rs 29.4 crore from the Deputy Commissioner of State Tax in Mumbai for incorrect availment and short reversal of ITC and interest on late payments. The company also faces an interest charge of Rs 281 crore. LIC states there is no significant impact on its financials or operations.
- Govt eases norms for listing on international exchanges within Gift CityGovt eases norms for listing on international exchanges within Gift CityThe Indian government has simplified listing rules for companies on international exchanges within IFSCs, aligning with global standards. New regulations require a minimum 10% public offer and allotment, and a continuous listing requirement of 10% under SCRR Rules 19 and 19A.
- 6 Adani stocks, LIC, and 3 PSUs slip below 20 & 50 DMAs: What should investors do?6 Adani stocks, LIC, and 3 PSUs slip below 20 & 50 DMAs: What should investors do?Despite 77% of Nifty 100 stocks trading above their 20-day DMAs and 63% above their 50-DMAs, 16 stocks, including six Adani Group stocks and several PSUs, have fallen below both moving averages. According to Ace Equity data, this indicates generally favorable trends for large-cap stocks.
- Do you have enough life insurance cover to protect your financial goals?Do you have enough life insurance cover to protect your financial goals?Your financial goals may be at risk if you have not taken sufficient protection against unforeseen events.
- Life insurance in fierce battle to grab annuities market shareLife insurance in fierce battle to grab annuities market shareWhile the annuity market in India is still in its early stages, insurers believe it holds long-term growth potential. With rising life expectancy and higher income levels, the demand for annuity products is expected to soar.
- Is the party over or just getting started for smallcap stocks? Feroze Azeez answersIs the party over or just getting started for smallcap stocks? Feroze Azeez answers?Indian analysts have not respected liquidity so much. One year back, on 11th of September last year, midcap was called mad cap and we are speaking almost in a year.
- LIC sells stake in Hindustan Copper for Rs 447 crLIC sells stake in Hindustan Copper for Rs 447 crLife Insurance Corporation of India (LIC) on Monday said it has sold a 2.09 per cent stake in state-owned Hindustan Copper for Rs 447 crore through an open market transaction.
- LIC plays the price game for growth, margins take a back seat, for nowLIC plays the price game for growth, margins take a back seat, for nowLIC, India's largest insurance provider, shifted its growth strategy, focusing on expansion over margins. In Q1 FY25, it reported a 24% rise in value of new business due to a 21% increase in annualized premium equivalent. This strategy led to a rise in non-par segment premiums but a decline in overall margins.
- View: Ask not just what your brand can do for you, but also what you can do for your brandView: Ask not just what your brand can do for you, but also what you can do for your brandAfter activist Foodpharmer's expose, Bournvita cut its sugar content by 14.4%, reflecting a trend towards healthier practices by brands. The article discusses the changing dynamics of customer-brand trust, emphasizing collaborative engagement and transparency. It also touches on historical integrity issues and the role of digital economies in raising consumer awareness. Recent guidelines by the Indian Council of Medical Research and movements like 'Label Padhega India' are promoting more honest labeling, while brands like Too Yumm! and Amul lead by example.
- Large, mid and smallcap stocks that mutual funds bought and sold in JulyLarge, mid and smallcap stocks that mutual funds bought and sold in JulyIn July, mutual funds purchased stocks worth Rs 206 billion, focusing on Vedanta, HDFC Bank, and ITC, while reducing their stakes in TCS, NTPC, and Avenue Supermarts. New largecap entries included Adani Enterprise and IDBI Bank. In the midcap space, Lloyds Metals and Yes Bank appeared, with JTL Industries in the smallcap sector.
- LIC sees red over policy 'trading' by ACESO, to take legal actionLIC sees red over policy 'trading' by ACESO, to take legal actionThe Life Insurance Corporation of India (LIC) is gearing up for a legal battle against ACESO, a company that buys and assigns LIC policies to policyholders for a consideration. LIC argues that ACESO's practices undermine the core principles of insurance and pose risks to policyholders. ACESO, founded by Ketan Mehta and Himanshu Ashar, offers higher payments for policies and continued commissions for agents, challenging LIC's stance. The dispute echoes a similar legal struggle from two decades ago, with LIC leveraging recent legal amendments to counter ACESO’s campaign.
- India's interest rate derivatives to get boost as top insurer LIC enters marketIndia's interest rate derivatives to get boost as top insurer LIC enters marketInvestment in a type of bond derivative called forward rate agreements could likely rise in India as the interest rate cycle turns and the country's largest insurer enters the market, traders said.
- Dalmia Bharat, Tata Power among 10 stocks that LIC bought and sold in Q1
- Here's why Deepak Shenoy is bullish on LIC stockHere's why Deepak Shenoy is bullish on LIC stockThere are countries that are hotter but have just a lot more air conditioning, so that way positive about the long-term future. We have not got this stock in our portfolio, but the whole space is interesting. For Jubilant, it is relatively expensive stock.
- Private life insurers take industry APE up 17% in JulyPrivate life insurers take industry APE up 17% in JulyIn July, India's life insurance industry saw a 16.9% year-on-year growth in annualised premium equivalent (APE), largely driven by private insurers, who posted an 18% increase. LIC saw a 13.5% rise in APE. Total premiums collected in July reached ?31,822 crore, a 14% year-on-year increase.
- New biz premium of life insurers grows 14 pc to Rs 31,823 cr in JulNew biz premium of life insurers grows 14 pc to Rs 31,823 cr in JulIn July, life insurers saw a 14% increase in new business premiums, reaching Rs 31,823 crore. The Life Insurance Corporation of India (LIC) led with a 19.78% rise, collecting Rs 18,431 crore. For the first four months of FY25, new business premiums surged 26% to Rs 75,872 crore. The overall growth in new policy issuances was 2.73%, with 23,88,720 new policies issued in July 2024. This growth reflects heightened consumer demand for insurance protection.
- Buy, Sell or Hold: Here's what brokerages said on LIC post 9% uptick in Q1 PATBuy, Sell or Hold: Here's what brokerages said on LIC post 9% uptick in Q1 PATLIC Share Price: LIC reported a consolidated net profit of Rs 10,544 crore for the first quarter ending June 2024, reflecting a 9% increase from Rs 9,635 crore in the same quarter last year. During the quarter, net premium income rose by 16% year-on-year to Rs 1.14 lakh crore, compared to Rs 98,755 crore in the corresponding period of the previous year
- Buy Life Insurance Corporation of India, target price Rs 1300: JM FinancialBuy Life Insurance Corporation of India, target price Rs 1300: JM FinancialLife Insurance Corporation of India key Products/Revenue Segments include Amount transferred from Policyholder Account, Interest, Dividend & Rent, Profit/Loss on Sale/Redemption of Investments and Other Operating Revenue for the year ending 31-Mar-2022.
- Game changer? LIC may enter indemnity health insurance by buying stand-alone private insurer, says CEOGame changer? LIC may enter indemnity health insurance by buying stand-alone private insurer, says CEOSiddhartha Mohanty, CEO & MD of LIC, discussed the company's plans to enter the indemnity health insurance sector by potentially acquiring a stand-alone private health insurance firm. He emphasized LIC's digital transformation and its strategy to balance digital and agency channels. Mohanty also addressed insurance sector challenges, market investments, and LIC’s undervaluation in the stock market.
