
LIC shares jump 5% on ₹9,544 crore Q1 profit
Net investment income surges 29.8% year-on-year to ₹90,309 crore in Q1 FY24.
Net investment income surges 29.8% year-on-year to ₹90,309 crore in Q1 FY24.
LIC has invested ₹31,200 crore in Adani Group companies that have touched ₹45,481 crore or 45% above the cost price by May 23
LIC ups its stake in Adani Green Energy, Adani Total Gas, Adani Enterprises, and Adani Transmission, but cuts stake in Ambuja Cements, ACC, and Adani Ports & SEZ
The central government and LIC together plan to sell 60.72% of shares in IDBI Bank.
Of this, the insurance giant's exposure is highest at ₹5,389 crore to Adani Ports & Special Economic Zone, says Sitharaman
LIC’s Q3 premium income fell 15.38% on QoQ basis but rose 14.5% on YoY basis to ₹1,11,788 cr. Market share slips 2.83% to 65.38%.
The total purchase value of equity, purchased over the last many years, under all the Adani group companies is ₹30,127 crore, says LIC.
The market regulator has also directed the new buyer to comply with minimum public shareholding norms within one year of the sale.
The debutant that ranks at No.2 on Fortune 500 India list comes with a rich legacy, but post-listing it needs to prove its chops.
LIC stock trades 0.29% down a day after it announced its shareholding in Power Grid has diluted from 5.303% to 3.3%.