English हिन्दी
Connect with us

Latest business news

LIC IPO: Should investors sell or retain shares after company’s weak listing? Know here

Trading has started in the shares of the insurance company Life Insurance Corporation (LIC). However, LIC has disappointed investors on the listing. The company’s shares were listed on the BSE at Rs 867, while the issue price was Rs 949.

Published

on

LIC IPO

Trading has started in the shares of the insurance company Life Insurance Corporation (LIC). However, LIC has disappointed investors on the listing. The company’s shares were listed on the BSE at Rs 867, while the issue price was Rs 949. In this sense, the stock got listed in the market by increasing by Rs 82 from its issue price.

The investors have incurred a loss of 9 percent on the listing. However, policyholders got this share at a discount of Rs 60 and employees Rs 45. That is, the loss on their listing has been reduced.

At present, the question arises that what strategy should be made in LIC’s stock after its listing in the market. Investors are thinking, should they sell ​​the stock or wait for some time.

Read Also: Gyanvapi Mosque case: Hindu Sena requests counsels to hear intervention plea along with Masjid Committee’s plea challenging videography survey

Talking about subscriptions, LIC’s IPO got a decent response from investors. This issue was filled 2.95 times i.e. about 295 percent. The reserve portion received a good response for employees and policyholders. The reserve quota for employees was filled about 4.40 times, while the reserve quota for policyholders received 6.11 times the bids. The share of Qualified Institutional Buyers (QIB) was 2.83 times, Non-institutional investors (NII) was 2.91 times and the reserve quota for retail investors was filled at 1.99 times.

World Hypertension Day 2022: Causes, symptoms and prevention of increased blood pressure | All you need to know

Woman takes Kareena Kapoor’s Zindagi Se Khelna Mera Favourite Game Hai dialogue way seriously, says getting arrested for fleeing and eluding was a part of her bucket list

Latest business news

Mukesh Ambani resigns as director of Reliance Jio, son Akash Ambani appointed chairman

Business tycoon Mukesh Ambani on Tuesday resigned as the director of Reliance Jio.

Published

on

mukesh ambani

Business tycoon Mukesh Ambani on Tuesday resigned as the director of Reliance Jio. The company appointed the non-executive director and Mukesh’s son Akash Ambani as the chairman of Reliance Jio Infocomm Ltd.

The decision was taken today in a board meeting which also appointed Pankaj Mohan Pawar as Managing Director of the Reliance Jio for five years which will be effective from June 27, 2022.

The Board of Directors had a meeting held on 27 June, 2022 where the following points were discussed:

·  The BoD accepted the resignation of former director Mukesh D Ambani as the Director of the Company.

Read Also: Maharashtra CM Uddhav Thackeray writes to rebel MLAs, you are Shiv Sainiks at heart, let’s talk and find a way

·  The Board of Directors have approved the appointment of Akash Mukesh Ambani, the former Non-executive Director as the new Chairman of BoD of the Company.

·  They have appointed KV Chowdary and Raminder Singh Gujral as the Additional Directors of the Company. Both have been designated as Independent Directors for a period of 5 years commencing from 27 June, 2022.

·  The BoD have also appointed Pankaj Mohan Pawar as the new Managing Director of the Company for a period of five years commencing from 27 June, 2022.

The company made an official declaration during the regulatory filing. Established in 2019 the Jio Platforms is totally owned by the RIL, which is also an Indian technology company. According to reports, the shares of Reliance Industries closed at 2,529.00 which is 1.49% higher than yesterday’s close.

Sanjay Raut seeks more time to appear before ED in money laundering case, here’s all you need to know about Patra Chawl redevelopment case

ONGC helicopter makes emergency landing in Arabian Sea, rescue underway

Continue Reading

Latest business news

Pallonji Mistry passes away at 93: Know how richest person of Ireland is related to Ratan Tata

The 93-year-old Indian-Irish business tycoon, Pallonji Mistry, head of the Shapoorji Pallonji Group, passed away on Monday night in Mumbai.

Published

on

Pallonji Mistry passes away
Pallonji Mistry was the richest person in Ireland and the chairman of Shapoorji Pallonji Group.

The 93-year-old Indian-Irish business tycoon, Pallonji Mistry, head of the Shapoorji Pallonji Group, passed away late on Monday night at his home in Mumbai. Popularly known as the Phantom of Bombay House, he died in mid-sleep on an intervening night on Monday and Tuesday. He is survived by his wife and four children, two daughters and two sons.

Pallonji Mistry was the richest person in Ireland and the chairman of the Shapoorji Pallonji Group. According to the Bloomberg Billionaires Index, his wealth is estimated to be US $28.0 billion as of April 9, 2021.

The third-highest civilian award in India, the Padma Bhushan, was given to Pallonji in 2016 for his contributions to real estate, textiles, power, shipping, publishing, and other industries.

How Pallonji Mistry was related to Ratan Tata?

Mistry’s father, Shapoorji Pallonji, invested in Tata Sons for the first time in the 1930s, and today, with a stake of 18.4%, he is the company’s largest individual shareholder. Tata Sons is principally owned by the charitable Tata Trusts.

Cyrus Mistry, his younger son, served as the Tata Sons’ chairman from 2012 to 2016. He was fired over a dispute that turned into one of the most fiercely disputed corporate battles in India in recent times.

The Mistry Group, however, intended to sell their shares in September 2020, after Cyrus was ousted. When Cyrus was removed as the chairman of the Tata Group in 2016, the conflict between the SP Group and the Tata Group escalated into one of the biggest corporate showdowns in India’s history.

Read Also: Mohammed Zubair arrest: Delhi Police say Alt News co-founder’s tweets highly provocative

Shapoorji Pallonji Group

The SP Group, which was established in 1865, is responsible for the construction of several famous structures in Mumbai, such as the Reserve Bank of India and the Taj Mahal Palace hotel complex.

The business tycoon assisted in the expansion of the SP Group into the Middle Eastern nations in 1970, notably Abu Dhabi, Qatar, and Dubai. The Sultan of Oman’s palace was the first foreign project the company won in 1971, which was completed in 1976.

Following this, the business constructed numerous ministerial structures in the region. Under his leadership, the business expanded into a conglomerate that included services for real estate, water, energy, construction, and finance.

The organization offers end-to-end solutions in 50 countries with a team of over 50,000 people.

Ashadha Amavasya 2022: Know what to do, and avoid on this day

Editors Guild condemns arrest of Mohammed Zubair, demands immediate release of Alt News co-founder

Continue Reading

India News

RBI increases repo rate by 50 bps to 4.90 per cent, know what impact it will have on your home loan EMIs

RBI governor Shaktikanta Das announced an increase in the repo rate by 50 basis points and this is likely to have direct impact on the pocket of EMI holders.

Published

on

Shaktikanta Das

In the Reserve Bank of India’s conclusion meeting of Monetary Policy, the RBI governor Shaktikanta Das announced an increase in the repo rate by 50 basis points. This increase is happening for the second time in five weeks. With this, now the RBI has increased the repo rate to 4.90 per cent.

As the repo rate has increased, will it have a direct impact on people who have EMIs? Yes, as the repo rate hike will make EMIs costlier. The increase in repo rate has a direct impact on interest rates on house loans, car loans, and personal loans.

What impact does the increase in repo rate have on EMI holders?

When the RBI’s policy rate increases due to this there is a higher cost of funds for banks. And, because of this, banks also raise interest rates and that directly impacts the pocket of the EMI holder and the monthly instalment also gets costlier because of this.

Read Also: Lucknow: Teenager killed mother over stopping him from playing mobile game, used air freshener for 2 days to hide foul smell

The RBI has been increasing the repo rate to tackle inflationary pressure. RBI governor Das also said that India’s recovery has also gained momentum and the withdrawal of accommodation started during the pandemic.

He also said that inflation has steeply increased much beyond the tolerance level. The process of recovery in emerging market economies is also getting affected. But the Indian economy has remained resilient. Das further said that they have started a gradual withdrawal of the extraordinary accommodation. RBI will continue to be proactive and decisive in mitigating the fallout of the geopolitical crises on our economy. Their steps will be measured and calibrated.

Das said that the RBI will remain focused on bringing down inflation with the target. He also talked about the geopolitical situation and said that the ongoing war has turned out to be a dampener on global trade and growth. Domestic economic activity is gaining traction while inflation pressures have intensified faster. Inflationary pressures have become broad-based and remain largely driven by supply shocks.

It is National Best Friends Day but THESE signs are indications that they really are not your best friend

World Brain Tumour Day 2022: How deadly are brain tumours in children? Know its symptoms, treatment

Continue Reading

Trending

-->

© Copyright 2022 APNLIVE.com