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India records 50,129 fresh COVID-19 cases, 578 deaths
LIC IPO may spill over to next fiscal as govt looks at valuation of insurer
Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said the pre-IPO work of LIC is going on at four stages — appointment of advisors for ensuring compliance, legislative amendment, LIC’s internal software changes to come out with its ’embedded value’ and appointing an actuary for vetting LIC’s actuarial valuation.
Pandey said only after the four stages converge, then a decision would be taken on the quantum of government stake to be diluted in LIC.
“We are trying our best to do this fiscal. But this IPO is a big issue and I think it will take time,” Pandey said when asked if the offering would happen this fiscal.
HDFC Life net profit rises 5.6% to Rs 326.09 cr in Q2 FY2020-21 standalone
“While we remain sensitive about the health impact and loss of lives due to the pandemic and continue to focus on employee, customer and partner safety norms, opening up of the economy has led to a pickup in activity levels on the ground.This has also resulted in a marginal uplift in household income and spends. Insurance as a category has emerged stronger as a vehicle to protect one’s family and realise their long term financial goals,”Vibha Padalkar,managing director and CEO said.
India economy on verge of slow recovery as worst is over, says PHDCCI
Demand creation will have a significant effect on the enhanced production sentiments of producers,increased investments and employment creation. Investments in the infrastructure will refuel the growth trajectory with increased demand for commodities such as steel, cement and power which in turn will rejuvenate private investments and create new employment opportunities in the country,said PHDCCI President Sanjay Aggarwal
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