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.
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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.
In the current fiscal year FY24, Indian insurance companies have achieved remarkable growth. All publicly traded insurance firms have outperformed the Nifty benchmark index, which has recorded an approximate 13% increase. Notably, the General Insurance Corporation of India has led the way with a remarkable surge of 67% during the same timeframe. Apart from LIC and Star Health and Allied Insurance Company, all other stocks are hovering within single-digit proximity to their 52-week highs, as per data from ACE Equity. It's noteworthy that the majority of these stocks exhibit more strengths than weaknesses in their SWOT analysis, as indicated by Trendlyne data.
In 5 years, the company more than doubled its assets to Rs 2.5 lakh crore in 2022. In the last five years, its loan portfolio has grown at a CAGR of 9%, while disbursements have increased by 4%.
Aditya Birla Finance has the room to raise as much as ₹2,000 crore through the NCDs issue, which opens on September 27 and closes on October 12, with an option to close early on account of oversubscription. The instrument, which has the highest AAA credit rating, has a face value of ₹1,000 apiece and investors need to apply for a minimum of 10 NCDs worth ₹10,000.
LIC paid out the dividend following the annual general meeting, which took place on August 22, 2023 and after receiving approval during the AGM. In FY23, LIC had reported a 10.90% increase in total premium income to ₹4,74,005 crore.
The company informed the bourses that it allocated 10.59 crore shares at ₹119 per share on September 22 to the anchor investors.
The shares were sold at an average price of Rs 973.80 per share during the period through an open market sale in an ordinary course of transaction, it said. Sun Pharma is engaged in the business of manufacturing, developing and marketing a wide range of branded and generic formulations and Active Pharma Ingredients (APls).
The Indian stock market marked an exciting day on September 14, with several midcap stocks surging to achieve new 52-week highs.
Over the years, LIC has taken various initiatives and digital initiatives to improve pricing and create operational efficiencies, LIC said in a release on occasion of its 67th anniversary. It services customers through its 8 zonal offices, 113 divisional offices, 74 customer zones, 2,048 branch offices, 1,580 satellite offices, and 13.47 lakh agents, it said.
Mutual fund houses periodically rebalance their portfolios to align with their investment objectives. They buy or sell stocks based on their investment strategies and market assessments. Here’s a list of top 10 midcap stocks that mutual fund houses sold in August. The list includes prominent names like LIC Housing Finance and HDFC Asset Management Company
GIFT Nifty on the NSE IX traded 45 points, or 0.23 per cent, higher at 19,282.50, signaling that Dalal Street was headed for positive start on Monday. Here's a slew of stocks that will be in focus today for various reasons.Stocks in focus: Gland Pharma, LIC and more
In the largecap segment, selling was prominent in the consumer space. Pidilite Industries, Marico, Berger Paint, Tata Consumer Products, and Trent were among the largecap bets that saw the highest selling by MFs last month, according to a report by ICICIdirect.
LIC’s qualified policies can be reinstated under this special revival campaign, subject to specified criteria and limitations, within 5 years after the date of the first unpaid premium.
In this article, we'll explore what RSI is, why it's important for assessing stock movements, and delve into ten stocks handpicked from a list of 30 that are currently trending up, as reported by StockEdge on September 4, Monday.
In this insightful article, we delve into the world of Relative Strength Index (RSI) and its significance in assessing stock movements. With data sourced from StockEdge and ETMarkets, we identify 10 stocks that recently witnessed RSI trading down.
A strong demand outlook amid growing power consumption scenario along with robust chart structure puts the stock in an enviable position with a potential upside of up to 28% seen over the next 12 months.
India VIX was down by 0.83% from 10.87 to 10.78 levels in the previous session. Volatility has been cooling off from the last three weeks and comforting the bulls for buying on declines.
LIC's Dhan Vriddhi is a non-linked, non-participating, individual, savings, single premium life insurance plan that provides both protection and savings.
India VIX was down by 1.41% from 12.39 to 12.22 levels on Tuesday. Volatility moved in its previous day’s range and resulted in a lackluster move in the indices.
LIC Housing Finance is one of the largest housing finance mortgage companies in the country. The company reported strong earnings for the June quarter with strong margins and stable asset quality. In view of the positive growth outlook, Shrikant Chouhan of Kotak Securities is bullish with a “buy” rating and a price target of Rs 580. Fundamental Radar I LIC Housing set to touch Rs 580 in 12 months; Shrikant Chouhan explains why
After moving in corrective mode, Both nifty and sense are making an attempt to come out of the range bound mode. During all this period of correction, sentiment has stayed bullish. When bulls over stay in a territory, it is not a bad idea to stick with large caps. Coming on the list is housing finance company along with an auto ancillary company which has recently opened two dedicated plants for supplying part of electric vehicles to OEM’s. ET screener powered by Refinitiv’s Stock Report Plus applies different algorithms & filters to all BSE and NSE stocks, and lists stocks which fulfill the various criteria as specified into the algorithms & filters to find those which might help navigate the stock market.
On the weekly options front, the maximum Call OI is placed at 19700 and then towards 19600 strikes while the maximum Put OI is placed at 19500 and then towards 19400 strikes.
Fag-end buying helped the BSE Sensex climb 100 points to settle at 65,880.52. During the day, it had declined 292 points to 65,488.03
Holding sufficient insurance coverage is always a crucial financial decision. The Covid pandemic emphasized its importance even further. However, the Economic Survey 2022-23 has raised a red flag associated with the customer’s preference for an investment-linked life insurance cover. It further highlighted that most life covers that are being sold have a small protection component and therefore carry a significant financial gap. So, that raises one question, “How much life insurance coverage will be adequate that provide financial support to your family in the event of the unexpected?”
ET Now spoke to various experts, and here's what they have to recommend for today's trading session. Kunal Bothra has a buy/sell recommendation on IEX and Chennai Petro, while Nooresh Mirani has a buy/sell recommendation on Wipro and LIC Housing Fin for today's trading session. Check out the targets and stoploss.Buy or Sell: Stock ideas by experts for September 05, 2023
ITC shareholders as of the record date of May 30 will get a final dividend of Rs 6.75 per share and a special dividend of Rs 9.75 per share. The total comes to Rs 9.50 per share
LIC Housing Finance took symbolical possession of a property in Churchgate, Mumbai, for which Essel Group Chairman Subhash Chandra acted as a guarantor due to unpaid debts. In a recent newspaper advertisement, LIC Housing Finance revealed that it had sent a demand notice to the borrower, Vasant Sagar Properties, PAN India Infraprojects, along with guarantor Subhash Chandra
Life Insurance Corporation of India (LIC) has received an order from Bihar Additional Commissioner State Tax demanding Rs 290 crore in goods and service tax, along with interest and penalty. LIC intends to file an appeal before the GST Appellate Tribunal against the order, which claims that LIC did not reverse the input tax credit availed and utilized on certain items.
LIC on Thursday reported that its standalone net profit for the quarter ended June 2023 rose multifold to Rs 9,544 crore. The same stood at Rs 683 crore in the same quarter of last year.
The LIC further said that the cost of acquisition of Jio Financial Services is 4.68 per cent of the pre-demerged cost of Reliance Industries. Shares of Jio Financial Services were trading at Rs 239.20 apiece, down 4.99 per cent, hitting the lower circuit limit for the second straight session on the BSE.
Life Insurance Corp of India (LIC), the largest insurer in the country, has been increasing its purchases of federal and state debt in order to reduce capital volatility. This shift has helped lower government borrowing costs and has resulted in states reducing their costs by more than 40 basis points over the past 15 months.
LIC celebrated its 67th anniversary on August 31, 2023 and announced the launch of a special campaign drive which will be effective from September 1, 2023.
Since it is the beginning of the new series, options data is scattered at various far strikes in the monthly series. On the weekly options front, the maximum Call OI is placed at 19400 and then towards 19500 strikes.
The Indian government has approved welfare measures for over 1.3 million agents and 100,000 employees of state-run Life Insurance Corporation (LIC). The measures include increasing the gratuity limit for LIC agents from ₹3 lakh to ₹5 lakh, expanding the term insurance cover for agents, and making reappointed agents eligible for renewal commission.
The Finance Ministry announced that it has approved several welfare measures for the agents and employees of the Life Insurance Corporation of India. The benefits include increase in gratuity limit, eligibility for renewal commission, term insurance cover and a uniform rate of family pension for LIC agents and employees.
Life Insurance Corporation of India (LIC) on Thursday reported a multifold jump in its April-June quarter net profit to Rs 9,544 crore. The state-run life insurance behemoth had a net profit of Rs 683 crore in the year-ago period. "LIC will take advantage of market movement in interest of stakeholders", LIC Chairperson, Siddharth Mohanty said. He further said, "Have a huge portfolio, exposure to Adani Group is very minimal".LIC Q1 profit rises fourteen-fold; Chairperson says 'exposure to Adani Group is minimal'
As per the latest corporate shareholdings filed, the President of India publicly holds 78 stocks with a net worth of over Rs 2,520,595 crore. Talking about the portfolio changes in June 2023, BEML, The Fertilisers and Chemicals Travancore were added to the government's portfolio, while it increased its stake in IFCI from 66.4% in the March quarter to 70.3% at the end of the previous quarter. A 4.5% stake reduction was seen in Bank of Maharastra, whereas the government sold around a 3% stake in Coal India. Now, let's have a look at the top 10 holdings of the Government of India and how they fared so far this year. (Source: Trendlyne)
Hero MotoCorp reported a 32% growth in net profit for the quarter ended June to Rs 825 crore. Revenue from operations grew 4.5% YoY to Rs 8,767 crore.
Tribhuwan Adhikari, the newly appointed managing director of LIC Housing Finance, said the jump in the bottomline was aided by high interest rates and low borrowing costs
Axis Bank has received approval to infuse Rs 1,612 crore in Max Life Insurance by subscribing to shares on preferential basis.
Motilal Oswal maintained a buy on Apollo Hospitals with a target price of Rs 5700. Apollo Hospitals (APHS) delivered operationally in-line 1QFY24.“We remain positive on APHS due to: a) its sustained healthy growth/ profitability in healthcare services, and b) efforts to achieve breakeven in Healthco during 4QFY24E,” said the note.
Stocks to buy today: LIC Housing, SBI Life among 8 short-term trading ideas by experts for 8 August 2023
On the weekly options front, the maximum Call OI is placed at 20,000 and then towards 19,800 strikes while the maximum Put OI is placed at 19,500 and then towards 19,400 strikes.
Adani Ports, Coal India, Siemens, Hindalco, Linde India, Lloyds Metals, Phoenix Mills, Oil India, Prestige Estates, Aarti Industries, Happiest Minds, Brigade Enterprises, Suven Pharma, Eureka Forbes and others will announce their June quarter results
Finance Minister Nirmala Sitharaman also told Parliament on Thursday that PSU banks are now able to work with professional integrity and without political interference
Stock Radar: LIC Housing Finance on verge of breakout from inverted Head & Shoulder pattern; time to buy?
The stock hit a 52-week high of Rs 443 on September 15, 2022, but failed to hold on to the momentum. It bounced back after hitting support above Rs 315 on March 28. This swing high of Rs 443 is also the neckline resistance of the inverted Head & Shoulder pattern on the weekly charts. A breakout from the same could push the stock towards Rs 450 levels. The stock closed at Rs 417 on August 1.
Baring PE sells entire stake in Coforge for Rs 7,683 cr in bulk deal; Morgan Stanley, SBI MF among buyers
Earlier in May, Hulst BV had sold 3.5% stake in Coforge through the open market for Rs 887 crore. The private equity firm has been offloading stake in tranches in the company over the last 2-3 years
LIC MF had an AUM of Rs 18,400 crore and IDBI MF had Rs 3,650 crore as of June. After completion of the merger, out of 20 schemes of IDBI MF, 10 schemes will be merged with similar schemes of LIC MF and the remaining 10 will be taken over by LIC MF on standalone basis, which will take its total scheme count to 38
Under the block deal, Hulst BV will offload 1.62 crore shares and the deal value is estimated around Rs 7,400 crore. Hulst BV is owned by private equity firm Baring PE
On August 3, Thursday, StockEdge reported 40 stocks trading with RSI trending down. ETMarkets has cherry-picked 10 stocks from the pack that were still trading with RSI trending down
From the StockEdge’s technical scan on MACD based on the previous day’s data, ETMarkets collated a list of top stocks whose MACD line has crossed the signal line. This typically gives a bullish signal, suggesting the price of the stock can tick higher. Also, note the further it is below the zero line, the stronger the signal strength. Let’s first understand MACD and other metrics of importance here. Note: The data is from the previous day as today's data is updated by the end of the day. (Source: StockEdge)
In the next four months, a total of 37 companies including Ideaforge, Netweb Technologies among others are slated to have their pre-listing shareholder lock-ins lifted. Here's a look. Source: Nuvama Institutional Equities.
India's biggest domestic investor Life Insurance Corporation of India, has increased stakes across sectors like metals, chemicals, IT, consumption, and energy in the June quarter. Market data shows LIC ownership went up in at least 40 stocks while it trimmed holdings in 75 counters. How LIC rejigged its portfolio in June quarter
India VIX was down by 1.48% from 12.14 to 11.96 levels in the previous trading session. Volatility rose above 12.5 during the day and later cooled off and comforted the bulls.
Between August 7 and 18, Kempas Trade and Investment bought 2.53 crore shares or 2.22% in Adani Enterprises, increasing the overall stake of promoters in the company to 69.87%. Promoters held 67.65% in Adani Enterprises at the end of June quarter
In this article, we explore the concept of RSI and why it is crucial to assess stock movements based on RSI trends. On August 4, Friday, StockEdge reported over 40 stocks that were trending up, and ETMarkets has handpicked ten stocks from this list for closer examination
At a market capitalisation of about Rs 1.68 lakh crore, JFSL is already India's 33rd largest listed company and bigger than the likes of HDFC Life Insurance, SBI Life and IndusInd Bank.
On the upside, Rs 100 is the psychological resistance level; above this, we can expect a rally towards Rs 114. On the downside, Rs 87 is an important support level during any correction.
Domestic investors' shares in NSE listed companies declined to 25.50% of total equity value on June 30, after increasing for six quarters in a row, showed data from primeinfobase.com.
Indian equities on Friday saw some recovery after a relentless sharp sell-off for the last three days given the weak global cues. Nifty at the close-ended 0.7% higher at 19,517. The recovery in the market was led by gains in index heavyweight Reliance Industries and HDFC Bank. Sectorally, Nifty FMCG, PSU Bank and Auto ended in the red, while all other indices gained. Meanwhile, broader markets also posted gains. Nevertheless, on a weekly basis, Indian equities saw a drag, with the Nifty index tumbling 0.66%. “Nifty is likely to be in a sell-on-rally mode until the 19660 level gets taken out decisively. Although options data for calls and puts are evenly distributed, the ferocity of the fall has made the index biased turn towards the downside barring the level mentioned. For Bank Nifty, the level to watch out for is 45550, until this gets taken out, all rallies will get sold into just like Nifty. Once these levels get taken out, a short covering rally can start in the Indexes once again back to the 20,000 and the 46500 levels,”Rahul Ghose, Founder & CEO – Hedged, said. Here are stock recommendations for Monday:
A triangle pattern was formed on the Nifty daily timeframe chart, with the market near the lower end of the pattern around 19,300 levels
The state-owned insurer's stake in LTTS rose 117 bps to 5.7%, Infosys 64 bps to 8.83%, HCL Tech 32 bps to 4.55%, LTIMindtree 24 bps to 3.36%, Wipro 17 bps to 4.59% and TCS 16 bps to 4.63%.
LIC Housing Finance, incorporated in the year 1989, is a Large Cap company (having a market cap of Rs 23658.21 Crore) operating in NBFC sector.
Market data shows LIC ownership went up in at least 40 stocks and trimmed holdings in 75 other counters. LIC's stake rose 409 bps in fertiliser-maker Kothari Industrial Corporation, 301 bps in Tata Chemicals, 240 bps in SAIL, 173 bps in Bata India and 164 bps in IEX.
The stock market's strong performance and favorable pricing are leading to a surge in initial public offerings (IPOs), with the number of IPOs reaching a multi-year high. In the current fiscal year, 166 companies have gone public through IPOs, surpassing the previous year's total. However, the amount of money raised is lower compared to the previous year due to large offerings in 2021-22.
LIC Chairman Siddhartha Mohanty presented the dividend cheque as the government's share of dividend in the presence of Department of Financial Services Additional Secretary MP Tangirala, the insurer said in a statement. The dividend was approved by the shareholders in the annual general meeting held on August 22, it said.
Bhanoo is currently serving as the Additional Zonal Manager of LIC in Bhopal.
In the Nifty500 pack, seven stocks are witnessing Golden Crossovers, according to stockedge.com's technical scan data. Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside. These stocks' 50-day simple moving averages (SMA) crossed their 200-day SMAs on August 4.
These pensioners can conveniently submit their life certificate online by downloading the LIC Jeevan Saakshya mobile app instead of going to a LIC branch to do so.
The Life Insurance Corporation of India (LIC) Dhan Vriddhi, a single premium life insurance plan, will end on September 30, 2023.
Jhunjhunwala, who passed away following a prolonged illness on this day last year, has left the 'Big Bull' thrown empty even as the Street looks flooded with bulls on almost every nook and corner.
Shares of Adani Enterprises were the best-performing stock, giving a whopping 38% returns since April. LIC holds a 4.26% stake in this Adani Group flagship company. Adani Ports and Special Economic Zone shares have given over 15% returns so far in the current financial year. LIC’s holding within the group is the highest in this company at 9.1%.
Action Construction Equipment (Re 1/share), Benares Hotels (Rs 20/share), Bharat Electronics (Rs 0.6/share), Relaxo Footwears (Rs 2.5/share), Shilchar Technologies (Rs 10/share), The J&K Bank (Rs 0.5/share), Vedant Fashion (Rs 9/share), V-Guard Industries, The South Indian Bank, and Industrial & Prudential Investment Company will trade ex-dividend on August 17.
ETMarkets Fund Manager Talk: Current rally has bridged valuation arbitrage between large and mid/smallcaps: LIC MF
"The recent rally in the market has led to strong inflows into midcap and smallcap funds. However, the valuation gap between largecap and midcap/smallcap stocks has narrowed. Investors looking to invest in midcap and smallcap funds should have a longer term view and manage their return expectations accordingly. Multicap funds, with balanced exposure across market caps, have the potential to deliver good risk-adjusted returns."
On Thursday, the Reserve Bank of India held key rates steady as expected. Governor Shaktikanta Das said there could be a substantial rise in headline inflation in the near-term and raised the retail inflation forecast for fiscal 2024, citing pressure from food prices.
The stock fell more than 30% from its listing day high. LIC listed on bourses on 17th May 2022 and made a high of Rs 920. The stock closed at Rs 622 on 18th July 2023 which translates into a fall of nearly 33%.
Foreign portfolio investors turn net buyers at Rs 644 crore on Wednesday. DIIs, meanwhile, bought shares worth Rs 597 crore.
Housing finance is a business where perception is that because it is largely secured lending, chances of companies going down under are very low. But if one looks at the history, there are enough local companies and global corporations which have gone down under in the housing finance space. Despite all the ills, one of the biggest wealth creators in the history of the Indian stock market has been a housing finance company, erstwhile HDFC which now merged with HDFC bank. So, it is a business which is good to own but what you choose to own matters most.
The share of domestic institutional investors, along with retail and high networth individuals (HNIs) in NSE-listed companies declined for the first time in six quarters to 22.5%, according to data sourced from Primeinfobase.
A bulk of the investment (Rs 11,514 crore) went into financial services, which have been a favourite of all big boys of Dalal Street amid solid credit growth. However, the pace of inflow in financial stocks slowed down compared to June when FIIs invested over 19,000 crore in the sector. Capital goods continued to be in the list of top FII favourites as foreign investors spent Rs 5,633 crore in the sector.
After witnessing some selling pressure last week, equity markets will take cues from the RBI policy outcome. Further, stock specific action is likely to continue with some major earnings including LIC, Adani Ports slated this week. Here are 8 technical picks from analysts that can offer gains up to 24%:
The average fixed deposit rate hit the highest peak of around 9.10% in the last 10 years. Interestingly, 9 out of the 10 worst-performing mutual funds have managed to meet or beat these returns. For the purpose of this study, ETMarkets assumed monthly SIPs of Rs 1000 over the last 10 years. (Source: ACE MF | Ritesh Presswala)
India VIX was up by 1.59% from 11.60 to 11.78 levels on Thursday. Volatility spiked to create momentum and cheer the bulls at lifetime high zones. On the monthly options front, the maximum Call OI is placed at 20,000 and then towards 20,100 strike while the maximum Put OI is placed at 19,800 and then towards 19,900 strikes.
Adani Power has reported a consolidated profit at Rs 8759 crore, up 83% for the quarter ended June 2023. Revenue from operations was down 20% at Rs 11005 crore.
Stock Radar: This financial services stock gives a breakout from a downward-sloping channel; time to buy
“On the short-term charts, LIC Housing Finance stock has already given a fresh breakout above the falling trend line of the downward sloping channel along with a sudden rise in volumes. Traders can buy for a target of Rs 455 in the next 4-7 weeks,” Shitij Gandhi, Senior Technical Analyst, SMC Global Securities, said.Stock Radar: This financial services stock gives a breakout from a downward-sloping channel; time to buy
IRDAI allows for modification of withdrawn life insurance products to benefit policyholders; 4 key provisions
The primary goal of this circular is to give existing policyholders more flexibility while protecting their interests. IRDAI has approved changes to withdrawn life insurance policies that will benefit existing customers
The stock market witnessed significant movements as several stocks surged beyond their last week's high on August 1, 2023, indicating a potential upside in the market. Investors are closely observing these stocks for potential investment opportunities in the ongoing market trends.
While Nifty has seen some corrections from its recently formed new highs, the broader market continues in bullish mode making analysts bullish on select large cap stocks. Making to the list are companies from different sectors, like new age companies, a fertilizer company which just announced a restructuring and an insurance company which despite all efforts is still not able to get past some selling pressure. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.
After four weeks of winning streak, the Nifty declined 0.5% in the last week after the US Fed hiked the interest rate by 25 bps. However, a host of analysts are positive and shared their tech views on particular stocks that can rally up to 11% in the short term. These stocks include Tata Chemicals, Tata Power, and LIC Housing Finance. Here is a list of 7 tech picks from various analysts:
LIC agents welfare measures: Govt increases gratuity limit, term insurance cover, sets uniform pension rate
The welfare measures include modifications to the LIC (Agents) Regulations, 2017, an increase in the gratuity limit, and a uniform rate of family pension, among other things.
The Indian government has initiated the process of selling a majority stake in IDBI Bank by inviting bids for an asset valuer. The chosen valuer will evaluate the bank's assets and provide support during the sale. Interested parties have until October 9 to submit their bids. The Department of Investment and Public Asset Management (DIPAM) is overseeing the strategic sale, pending clearance from the Reserve Bank of India. Once clearance is obtained, due diligence will be conducted by bidders.
Adani Enterprises crossed its 20-day SMA, moving from 2392.57 to 2387.9 on July 12. Adani Enterprises is a diversified conglomerate with interests in various sectors, including energy, logistics, infrastructure, and agribusiness
Despite having eroded over 95% of investor wealth in the last five years, shares of private sector lender Yes Bank remained India's widely owned stock. The latest shareholding pattern shows that Yes Bank had 49.04 lakh shareholders at the end of the June quarter. Meanwhile, Tata Steel, Reliance Industries, and LIC also have a large number of shareholders. Here's a list of 10 firms with over 30 lakh shareholders:
Maharashtra Housing Minister asks MHADA to issue notices for redevelopment of LIC's 68 cessed Mumbai buildings
These notices will be issued under the newly introduced section 79 (A) of the Maharashtra Housing and Area Development Act, 1976. The new section deals with the redevelopment of cessed buildings that are declared as dangerous by the Municipal Corporation of Greater Mumbai (MCGM).
Nifty futures on the Singapore Exchange traded 29 points, or 0.15 per cent, lower at 18,880, signaling that Dalal Street was headed for negative start on Thursday. Here's a slew of stocks that will be in focus today for various reasons.Stocks in focus: Glenmark, LIC and more
RSI or the relative strength index computes the ratio of the recent upward traction in the stock price movement relative to its absolute price movement. The RSI value ranges between 0 and 100. Herein, the StockEdge data takes into consideration the time period of 14 days to compute RSI. Furthermore, apart from determining the likely uptrend or uptrend, RSI also enables an understanding of the stock’s overvalued or oversold state. So, here are 5 major midcap stocks which signal a possible uptrend in the near term. Note the data is from the previous day as today’s data is updated after market hours. (Source: StockEdge) Significance of RSI moving up This is a bullish signal as the RSI has crossed above 50 from below.
The RSI is a momentum oscillator that measures the speed and magnitude of price movements. It ranges between 0 and 100, with readings above 70 indicating overbought conditions and below 30 indicating oversold. A rising RSI trend typically signifies an increasing bullish momentum.
As the NIFTY and broader market continues in bullish mode with very minor intraday corrective moves, analysts are bullish on select large cap stock. Making to the list are a host of companies from different sectors, like new age company, a fertilizer company which just announced a restructuring and an insurance company which despite all efforts is still not able to get past some selling pressure. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks. This predefined screener is only available to ET Prime users.
Doraiswamy, who is now an executive director at the central office in Mumbai, will take over the managing director's role at Life Insurance Corporation of India from Ipe Mini.
It is better to invest in a fixed deposit that has received the greatest safety ratings from reputable credit rating agencies. Here are popular NBFCs offering best fixed deposit interest rates.
On July 21, StockEdge reported that 29 stocks with Relative Strength Index (RSI) were trending down, indicating a possible shift in their price trends in the stock market. The RSI, which ranges from 0 to 100, is widely used to identify overbought and oversold conditions in a stock, and values above 70 suggest the stock