Equity investors suffered an erosion of Rs 13 lakh crore in market...
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Shriram General in pact to enable Muthoot Securities customers to purchase covers
Shriram General Insurance Company (SGIC) has entered into a...
Sebi mulls expanding scope of unpublished price-sensitive information
In its consultation paper, Sebi has proposed that only agreements,...
Age before apps revolt galvanises Europe’s elderly savers
in Britain, the government plans legislation to ensure that the digital banking drive does not cut older people adrift Italy's biggest bank Intesa Sanpaolo, which plans to cut 22% of its branches in the next four years, has struck a partnership to provide basic...
LIC’s looming mega IPO weighs on other insurers’ stocks, say investors
LIC's listing could dump the equivalent of nearly 60% of the three insurers' free-float capitalisation on the market, Macquarie said in a report this week, adding that the outlook for them remains challenging If LIC's valuation is attractive, the pressure could spread...
LIC policyholders need to update PAN details by Feb 28 to participate in IPO
The initial public offering (IPO) of over 31.6 crore shares or 5 per cent government stake is likely to hit the market in March and employees and policyholders of the insurance behemoth would get a discount over the floor price Mumbai: Life Insurance Corporation of...
Investors’ wealth tumbles by over Rs 8.47 trn amid global sell-off
In just two sessions, the total investors' wealth has eroded by more than Rs 12 lakh crore. Mumbai: Investors' wealth plummeted by more than Rs 8.47 lakh crore on Monday as the stock market continued to be ravaged by weak global sentiments triggered by mounting...
LIC IPO: Market crash makes India’s biggest listing a tough task
India will need bulky commitments from anchor investors, who will raise about a third of the total money. A further 35% -- or Rs 21,000 crore, based on the estimated valuation -- will be sold to millions of retail investors. That’s a challenging task To overcome a...
Axis Bank set to buy Citigroup’s India retail unit for $2.5 bn: Report
For Citigroup Chief Executive Officer Jane Fraser, the planned India retail sale is part of a restructuring to simplify the U.S. lender, do away with its retail banking operations in 13 countries across Asia and Europe, and focus on high-growth businesses such as...
LIC IPO: Govt files draft papers with Sebi, to sell 5% for around Rs 63,000 crore
Although the DRHP does not disclose the market valuation of LIC, as per industry standards it would about 3 times the embedded value or around Rs 16 lakh crore. The government will sell over 31 crore equity shares of LIC LIC's embedded value has been pegged at about...
FPIs net sellers at Rs 14,935 cr in first half of Feb
''FPIs sharply increased the pace of selling after the US Federal Reserve indicated an end of the ultra-loose monetary policy regime. Besides, globally, the bond yields have surged in recent times on expectation of a hike in interest rates by the US Fed,'' Himanshu...
NFT marketplace shuts, citing ‘rampant’ fakes, plagiarism problem
Sales of NFTs, or non-fungible tokens, soared to around $25 billion in 2021 leaving many baffled as to why so much money is being spent on items that do not physically exist and which anyone can view online for free The platform which sold an NFT of Jack Dorsey's...
Taxing cryptos income doesn’t make them legal: FM Sitharaman
Finance Minister Nirmala Sitharaman said, "I am not going to legalise it or ban it at this stage. Banning or not banning will come subsequently, when consultations give me input". About the profit emanating from transactions in cryptocurrencies, she stated that...