[ MUMBAI: LIC has introduced a new plan called ‘LIC’s Amritbaal‘ designed to meet expenses related to a child’s higher education. The plan is an individual, savings, life insurance plan specifically tailored to accumulate a corpus for meeting the higher education and other needs of the child. It offers guaranteed additions at the rate of … Read more
[ NEW DELHI: Life Insurance Corporation of India has received an income tax refund order of Rs 25,464 crore, and it is likely to be realised during the current quarter, its chairman Siddhartha Mohanty said. Last month, the Income Tax Appellate Tribunal (ITAT), Income Tax Department, issued intimation for a refund of Rs 25,464.46 crore. … Read more
[ NEW DELHI: Four of the top-10 most valued firms together added Rs 2.18 lakh crore in market valuation last week, with Life Insurance Corporation and State Bank of India emerging as the biggest gainers. From the top-10 pack, Reliance Industries, Tata Consultancy Services (TCS), Life Insurance Corporation of India (LIC) and SBI were the … Read more
[ MUMBAI: HDFC Bank said on Thursday that RBI has allowed LIC to increase its stake in the bank up to 9.99%.This is an enabling provision in line with RBI norms of shareholding of private banks. RBI has separate fit-and-proper guidelines for companies that are allowed up to 5% stake and for entities holding from … Read more
[ NEW DELHI: Life Insurance Corporation of India (LIC) surpassed State Bank of India (SBI) to become the country’s most valued PSU firm by market valuation on Wednesday. Shares of LIC climbed 3 per cent to reach its 52-week high of Rs 919.45 in intra-day trade on the BSE. However, later it pared the gains … Read more
[ NEW DELHI: The government has granted a one-time exemption to LIC to achieve 25% minimum public shareholding (MPS) within 10 years, the state-owned insurer said on Thursday. The country’s largest insurer LIC was listed in May 2022. The government had sold over 22 crore shares, or a 3.5% stake in LIC, through an IPO. … Read more
[ State-owned companies have played a significant role in the BSE Sensex reaching the milestone of 70,000 points. The market capitalization of listed government assets almost doubled to around Rs 46.4 lakh crore for the final 10,000 points addition to Sensex. This surge in value has outperformed even leading private companies like Tata Group, Reliance, … Read more
