LIC News

​Stocks expected to show bullishness include Reliance, ICICI Bank, LIC Housing Finance, Grasim, Praj Industries, Biocon, Apollo Tyres, Tata Motors, and BEL. Consider a moderately bullish strategy using a Bull-Call Spread for the July 4 weekly expiry.

Further to filing ref. no. LIC/SE/2022-23/13 dated April 28, 2023, this is to inform that Mr. Siddhartha Mohanty, the incumbent Chairperson of the Life Insurance Corporation of India ("the Corporation") shall be the Chief Executive Officer and Managing Director of the Corporation effective June 30, 2024.

​Nine of the top-10 most valued firms together added Rs 2,89,699.42 crore in market valuation last week, with Reliance Industries emerging as the biggest gainer, in line with a rally in equities. Last week, the BSE benchmark jumped 1,822.83 points or 2.36 per cent.

This is to inform that Mr. Praveen Kumar, Executive Director (Coordination), Senior Management Personnel of the Life Insurance Corporation of India will be superannuating w.e.f. June 30, 2024. He will be relieved from his duties, at the close of office hours on June 28, 2024, being the last working day of the month.

This is to inform that the Life Insurance Corporation of India has received communication/demand order for Goods & Service Tax, Interest and penalty for West Bengal state.. The order is appealable before the Commissioner (Appeals), West Bengal.

This is to inform that trading window for dealing in shares of the Life Insurance Corporation of India shall remain closed for the Insiders from July 01, 2024 till 48 hours after the conclusion of Board Meeting for consideration and approval of the Financial results for the quarter ended June 30, 2024.

Apollo Tyres breakout signals strong buying interest. Accumulate in the 520-515 zone with a stop loss at 500, targeting 550 in the short term.

LIC Housing Finance Ltd., incorporated in the year 1989, is a Large Cap company (having a market cap of Rs 42346.60 Crore) operating in NBFC sector.

ICICI Securities' technical analysis forecasts Nifty reaching 25,200 by December 2024, supported strongly at 22,200. Midcaps and smallcaps indices are in a structural uptrend, expected to gain over 16% by year-end.

The combined market valuation of three of the top-10 most valued firms jumped Rs 1,06,125.98 crore in holiday-shortened last week, with HDFC Bank and ICICI Bank emerging as the biggest gainers. Last week, the BSE benchmark Sensex climbed 217.13 points or 0.28 per cent.

In continuation to our earlier filing vide Ref. no. LIC/SE/2024-25/41 dated June 18, 2024, we enclose herewith the Presentation for Investors/Analysts meet scheduled to be held on June 21, 2024.

This is to inform that the Life Insurance Corporation of India will be participating in the Jewels of Bharat PSU Investors Conference 2.0 organized by PhillipCapital India on June 21, 2024 at The Oberoi, Delhi, India.

This is with reference to the news item published / broadcasted in various mainstream media on June 18, 2024 regarding ''Mega LIC property sale to raise $6-7bn''.In this regard, pursuant to Regulation 30(11) of the Listing Regulations, we hereby clarify that news published in the mainstream media is incorrect.

Musk's compensation package not only outstrips TaMo but also surpasses the total revenues of other prominent Indian entities, including HPCL, SBI, Rajesh Exports, and TCS

Top-10 firms gained Rs 85,582.21 crore in market valuation last week, with LIC leading. BSE Sensex rose 0.39%, hitting an all-time high. Market cap changes noted for Reliance, HDFC, Bharti Airtel, SBI, and LIC.

Life Insurance Corporation (LIC) has clarified that there is currently no formal proposal for it to enter the health insurance space. This clarification comes amid expectations that composite licenses may be permitted by amending the Insurance Act, which currently does not allow life insurers to underwrite health insurance policies. A parliamentary panel had earlier suggested the introduction of composite licensing for insurers to undertake life, general, or health insurance under one entity, which could lead to cost savings and offer customers more choice and value.

This is with reference to the news item published/broadcasted in mainstream media on June 14, 2024 regarding ''LIC to enter health insurance market via private health insurer''.In this regard, pursuant to Regulation 30(11) of the Listing Regulations, we hereby clarify that at present, no such formal proposal has been initiated. However, the Life Insurance Corporation of India evaluates and explores various strategic opportunities in the ordinary course and also inorganic options for growth and expansion of its business, including strategic partnerships and investment opportunities.

LIC's shares surged 6% on plans to enter the health insurance market. The stock is trading at Rs 1074 on NSE, up 4.55%. LIC aims to acquire a standalone health insurance company to expand its market presence.

​Mutual funds sold shares in several PSU stocks in May ahead of the June 4 outcome with GAIL (India), Punjab National Bank (PNB), Power Finance Corporation (PFC), NHPC and Indian Renewable Energy Development Agency (IREDA) witnessing complete exit by individual mutual funds.

This is to inform that Life Insurance Corporation of India has increased its shareholding in Dr. Reddy''s Laboratories Limited ("company") from 82,61,579 to 83,69,879 equity shares, i.e., 4.95% to 5.01% of the paid-up capital of the said company.

Insurance stocks rose up to 3% after IRDAI increased surrender values for non-linked products, affecting insurers like LIC, HDFC Life, and Max Life. Shares of LIC, HDFC Life, and SBI Life were up on BSE. Nuvama awaits more details from companies next week.

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Sebi proposes to revise criteria for derivatives market, potentially adding 78 stocks like LIC, Zomato, YES Bank. Changes include higher thresholds for order size, market-wide position limits, and introducing Product Success Framework for single-stock derivatives after 6 months.

​Eight of the 10 most valued domestic firms together added Rs 3.28 lakh crore to their market valuation last week, with blue-chips Tata Consultancy Services, Hindustan Unilever and Reliance Industries emerging as the biggest winners. In an eventful week, the BSE benchmark jumped 2,732.05 points or 3.69 per cent.

A consumer commission in Mumbai has directed the Life Insurance Corporation of India (LIC) to pay a claim of Rs 2 lakh to the widow of a policyholder who was illiterate and unaware of the policy terms and conditions. The commission noted that guidelines from the Insurance Regulatory and Development Authority (IRDA) require all terms and conditions to be explained to the insured in a language known to them before taking their signature on the policy document.

This is to inform that Dubai branch of one of the subsidiary of Life Insurance Corporation of India has received a notice from Federal Tax Authority, UAE regarding imposition of administrative penalty. The appeal has been filed against this notice and reply is awaited from the Authority.

Yes Securities has mentioned ​24 stocks across 8 sectors, including Hindalco, HUL, GAIL, in its conviction list, stating that the markets tend to perform well after the election results.

We have enclosed herewith the Transcript of Earnings Conference Call of Life Insurance Corporation of India with Analysts / Investors held on May 28, 2024.

This is to inform that Life Insurance Corporation of India has increased its shareholding in P I Industries Limited from 7519910 to 7591910 equity shares i.e., from 4.95% to 5.00% of the paid-up capital of the said company.

This is to inform that Mr. Sanjeev Nautiyal, has ceased to be the Independent Director of the Life Insurance Corporation of India with effect from close of day on May 31, 2024.

This is to inform that Mr. Navani Udaykumar, Executive Director (Coordination), Senior Management Personnel of the Life Insurance Corporation of India, will be superannuating today, i.e., May 31, 2024, at the close of office hours.

This is to inform that Mr. P R Mishra, Executive Director (Coordination), Senior Management Personnel of the Life Insurance Corporation of India will be superannuating today, i.e., May 31, 2024, at the close of office hours.

IDFC First Bank will allot around 39.68 crore shares to some of India's biggest institutional investors, including LIC, HDFC Life, ABSL Insurance, Bajaj Allianz Life, ICICI Lombard, and SBI General Insurance.

This is to inform that the Presentation for Investors / Analysts Meets scheduled to be held in the month of May / June, 2024 is available on the website of the Life Insurance Corporation of India.

Brokerages are largely positive on LIC's future as they see an upside potential of up to 30% in the stock, suggesting target prices as high as Rs 1,300.

Brigade Enterprises' shares surged 9% to a 52-week high after reporting a three-fold jump in net profit. Managing Director Pavitra Shankar expressed confidence in sustained performance with ongoing and upcoming projects in Bengaluru, Chennai, and Hyderabad.

Investec brokerage firm upheld its buy recommendation for Hindalco, while Nuvama initiated coverage on Inox Wind and Suzlon Energy with buy ratings, respectively. Goldman Sachs has given LIC a neutral rating following its Q4 results.

LIC assets have exceeded Rs 50 lakh crore, marking a significant milestone and overshadowing Pakistan's GDP. In FY24, LIC reported a profit of Rs 40,676 crore and total premium income of Rs 4,75,070 crore. The company, with a market share of nearly 59% in the Indian life insurance sector, is now eyeing entry into the health insurance domain. Its market value has surged by nearly 52% in the past six months, making it the seventh-largest stock by market capitalization.

Life Insurance Corporation of India, incorporated in the year 1956, is a Small Cap company (having a market cap of Rs 642619.77 Crore) operating in Financial Services sector.

This is to inform that Mr. Sanjeev Nautiyal (DIN: 08075972) vide email dated May 28, 2024, has submitted his resignation as an Independent Director of the Life Insurance Corporation of India with effect from close of day on May 31, 2024 along with his Chairmanship/Membership in various Committees, where he is a member.