LIC shares have risen 6% to Rs 972, surpassing IPO price. The 17% wage hike may cost shareholders Rs 4,000 crore yearly. Long-term prospects though are promising for the Indian insurance industry. The current levels may present an opportunity for long-term investors with diversified portfolios that prioritise the insurance sector's potential and the fundamentals of LIC.
LIC shares rose 6% in FY25, surpassing IPO price. A 17% wage hike for 1.10 lakh employees raised shareholder concerns. Front-running case and market conditions may affect short-term performance, but long-term outlook remains positive.
LIC shares have risen 6% to Rs 972, surpassing IPO price. The 17% wage hike may cost shareholders Rs 4,000 crore yearly. LIC, which is the largest domestic institutional investor in the Indian stock market, was also in the headlines for the front-running case. Sebi confirmed the involvement of one of its employees in a case of a big client's trades.
LIC shares have risen 6% to Rs 972, surpassing IPO price. The 17% wage hike may cost shareholders Rs 4,000 crore yearly. LIC, which is the largest domestic institutional investor in the Indian stock market, was also in the headlines for the front-running case. Sebi confirmed the involvement of one of its employees in a case of a big client's trades.
Sitharaman recently mentioned during a media event that she opted out of contesting in the forthcoming Lok Sabha elections due to a lack of sufficient funds required for campaigning. In both the 2016 and 2022 declarations, Sitharaman listed ownership of a Bajaj Chetak scooter, which she purchased for Rs 28,200. Notably, she did not declare ownership of a car.
The valuation of Reliance Industries jumped Rs 45,262.59 crore to reach Rs 20,14,010.63 crore. State Bank of India added Rs 5,533.26 crore, taking its market valuation to Rs 6,71,666.29 crore. However, the market cap of Tata Consultancy Services (TCS) declined by Rs 10,691.45 crore to Rs 14,05,102.38 crore, and that of Infosys went lower by Rs 4,163.13 crore to Rs 6,22,117.38 crore.
As the insurance industry gears up to embrace the new possibilities in 2024 and drive the life and health insurance-for-all initiative, ET BFSI In collaboration with Newgen hosted a roundtable discussion titled "Dawn of Insurance 4.0: Navigating The Next Normal" to discuss and dissect the key developments shaping up the sector in the upcoming decade.
Apart from LIC, seven other public sector stocks join this list – State Bank of India, NTPC, Oil and Natural Gas Corp, Indian Oil Corp, Indian Railway Finance Corp, Hindustan Aeronautics, and Coal India. While SBI’s market capitalization increased by Rs 1.88 lakh crore, those of IRFC went up by Rs 1.5 lakh crore.
Like its banking counterpart RBI, the insurance regulator IRDAI has also made this announcement as a part of 'special measures for the current financial year'. To avoid any hardship to the policyholders, LIC will keep its branches open on the coming weekend, it said in the late hours on Thursday.
The Brand Finance Insurance 100 2024 report notes that LIC's brand value remains steady at USD 9.8 billion, accompanied by a brand strength index score of 88.3 and an associated AAA brand strength rating. Following LIC, SBI Life Insurance has also made it to the top 10 and holds the 6th position.
Natarajan, an industry veteran with over three decades of experience, is responsible for enterprise compliance, risk management, design and implementation of internal controls, and policies and procedures, the company said.
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