
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
The total purchase value of equity, purchased over the last many years, under all the Adani group companies is ₹30,127 crore, says LIC.
LIC of India share price jumped 8.7% to ₹682.70 on the BSE, registering its biggest intraday gain since listing.
Government as well as LIC will sell a little over 30% stake each in the bank along with the transfer of management control.
Double-digit growth projections for India’s life insurance industry are twice the global average of 5.5%, thanks to increased penetration, regulatory changes, and growing awareness, says GlobalData
On Monday, LIC shares declined 4.5% to hit their lowest level of ₹676.05, driven by sustained selling as the lock-in period for anchor investors ends today.
The portion reserved for employees and policyholders was subscribed 1.17 times and 1.99 times, respectively, on day one of bidding.
The corporation's aggregate amount of income tax and interest contested is ₹72,762 crore.
LIC IPO issue opens for subscription on May 4, 2022, and the price band has been fixed at ₹902-949 apiece.