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Asian life insurance giant, the <keyword id="6368369" type="General" weightage="50" keywordseo="life-insurance-corporation-of-india" source="Orion">Life Insurance Corporation of India</keyword> on Thursday said its Indian Embedded Value (<keyword id="3408788" type="General" weightage="80" keywordseo="iev" source="Orion">IEV</keyword>) as on March 31, 2022 was Rs 541,942 crore. The embedded value in the case of a life insurance company is the current value of the company's future profits. According to <keyword id="6367143" type="General" weightage="100" keywordseo="lic" source="Orion">LIC</keyword> officials, the IEV has been determined at Rs 541,492 crore (Rs 5,414.9 billion) as compared to Rs 95,605 crore (Rs 956 billion) as on March 31, 2021 and Rs 539,686 crore (Rs 5,397 billion) as on September 30, 2021. Officials said the volatility in the stock market has impacted the LIC's investment market value to the tune of Rs 40,000 crore which, in turn, had its impact on IEV. According to the officials, the Rs 40,000 crore reduction in the market value of its investment was in both equity and debt segments of the market. The IEV as of September 30, 2021 was significantly higher than the IEV of March 2021 due to the bifurcation of fund that was carried out by LIC pursuant to changes in the <keyword id="7922368" type="General" weightage="20" keywordseo="lic-act" source="Orion">LIC Act</keyword> during the FY 2021-22. The LIC Board on January 8, 2022 had approved bifurcation of the single fund into separate Participating and Non-Participating funds and the effect of such bifurcation has been reflected in the Financials as at March 31, 2022. The life insurer had engaged <keyword id="14454797" type="General" weightage="50" keywordseo="milliman-advisors-llp" source="Orion">Milliman Advisors LLP</keyword> for arriving at the embedded value. On Thursday the LIC's Board accepted <keyword id="1417479" type="General" weightage="50" keywordseo="milliman" source="Orion">Milliman</keyword>'s IEV report. LIC Chairman M.R. Kumar said the valuation of IEV took some time to get completed. On the LIC's decision to publish the embedded value once in six months - in March and September - Kumar said it is in line with the industry practice. Further, determining the embedded value of a life insurance company of LIC size with about 28 crore policies is a time consuming and elaborate process, officials added. The Value of New Business (VNB) for year ended March 31, 2022 has been determined to be Rs 7,619 crore (Rs 76.19 billion) as compared to Rs 4,167 crore (Rs 41.67 billion) for the year ended March 31, 2021. Also, the VNB for the six-month period ended September 30, 2021 was Rs 1,583 crore (Rs 15.83 billion). The VNB margin, for the year ended March 31, 2022 is 15.1 per cent as compared to 9.9 per cent for the year ended March 31, 2021. Officials said the VNB margin went up owing to change in business mix like the group business going up to 29 per cent from 24 per cent. The ROEV (Return on embedded value) for March 21, 2022 is 11.9 per cent as compared to 36.9 per cent for March 2021. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/iamai-dissolves-blockchain-and-crypto-assets-council-to-no-longer-represent-crypto-exchanges/articleshow/92880182.cms">IAMAI dissolves Blockchain and Crypto Assets Council, to no longer represent crypto exchanges</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/chitra-ramakrishna-arrested-by-ed-and-sent-to-a-four-day-remand/articleshow/92879523.cms">Chitra Ramakrishna arrested by ED and sent to a four-day remand</a>

LIC's embedded value is estimated at Rs 5.4 lakh crore

<ul><li><keyword id="7922409" type="General" weightage="20" keywordseo="lic-ipo" source="Orion">LIC IPO</keyword> is selling about 31.6 crore shares or 5% of the government's stake till the end of March.</li><li>To boost investment from its army of policyholders, LIC has reserved 10% shares from the total issue size for such investors.</li><li>LIC has a market share of 74.6% in terms of a number of individual policies issued in FY21.</li></ul>The government is all set to sell a small chunk of its shareholding to list the largest life insurer, Life Insurance Corporation of India (LIC). The initial public offering (IPO) comes with a number of perks for people who own insurance policies of LIC. LIC has about 29 crore policyholders and dominates a market share of 74.6% in terms of a number of individual policies issued in FY21. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LIC IPO </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shares for offer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">31.6 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Embedded value </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5.4 lakh crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Listing at </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BSE, NSE </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Government pre holding in LIC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">100% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>LIC has created a reservation quote for policyholders and employees wherein such investors will get a discount on the issue price. 10% reservation for policyholders along with some discount LIC has reserved 10% of the issue size for its army of policyholders and also plans to give some discount to such investors in the IPO. Not only policyholders, employees of the insurance company also have a quote for themselves with 5% of issue size reservation. “Policyholders may get a 10% discount on issue price,” Anshuman Khanna, Director at Value Prolific Consulting Services (ValPro) told Business Insider. Suppose the issue price of LIC IPO is ₹1,500 then the policyholder may get at ₹1,350 per share, which will give them an additional upside, said Khanna. Cap on investment Investors holding LIC policy cannot exceed their investment more than ₹2 lakh as most of such investors also come under the retail category. Such investors can bid under the ‘Policyholder Reservation Portion’ through the applications supported by blocked amount (ASBA) and the UPI mechanism. Mandatory to link PAN and have a demat account Only policyholders who have updated their PAN by February 28, 2022 can apply under policyholder's quota. Process to link your PAN details with the LIC: <ul><li>Visit LIC website <a href="http://www.licindia.in/">www.licindia.in</a> OR <a href="https://licindia.in/Home/Online-PAN-Registration">https://licindia.in/Home/Online-PAN-Registration</a></li><li>Keep your policy number ready, PAN, date of birth and e-mail ID, which needs to be filled in while updating your PAN.</li><li>You may update the records for all of your LIC policies using the above link.</li><li>You can also check whether your PAN Is registered in your policy or not by visiting the Corporation's website <a href="http://www.licindia.in/">www.licindia.in</a> OR <a href="https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus">https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus</a>?</li><li>Alternatively, you may also contact your LIC Agent for assistance.</li></ul>Joint life policy holders If you own a joint policy of LIC, then only one of the policy members can apply under the ‘Policyholder Reservation Portion’ category. The PAN number of the applicant bidding in the offer (you or your spouse) needs to be updated while linking the PAN. Also, the policy member applying for the IPO has to have a demat account in his/ her name and in case the demat account is joint, the applicant needs to be the first /primary holder of the demat account. Eligible policies All policies that have not exited LIC’s records by way of maturity, surrender or by way of death of the policyholder are eligible for policyholder reservation. Applied for LIC policy recently but did not receive policy document If you have applied for a LIC policy but are yet to receive the policy document, in that case, the draft red herring prospectus (DRHP) states that the policy should have been issued on or before the date when the DRHP was filed on February 13. No lock-in period Policyholders who were allotted equity shares under the reservation category can sell the shares anytime as per their choice. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/reliance-industries-adani-enterprises-future-retail-vedanta-and-other-hot-stocks-on-february-15/slidelist/89580792.cms">Reliance Industries, Adani Enterprises, Future Retail, Vedanta and other hot stocks on February 15</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/russias-new-crypto-law-is-less-than-a-week-away-heres-what-we-know-so-far/articleshow/89582403.cms">Russia's new crypto law is less than a week away — Here’s what we know so far</a>

These are the discounts and perks LIC policyholders will get while applying for the IPO

<ul><li><keyword id="6368369" type="General" weightage="20" keywordseo="life-insurance-corporation-of-india" source="Orion">Life Insurance Corporation of India</keyword> has fallen 22% from its issue price as market sentiment turned for the worse</li><li>The state-owned insurer is no longer among the top 10 companies has come down to ninth positions from fifth earlier.</li><li><keyword id="6367143" type="General" weightage="20" keywordseo="lic" source="Orion">LIC</keyword> owns 4% of the entire equity market and 2% of the bond market. So, every time the market or bond yields move, its fortunes change.</li></ul>Life Insurance Corporation of India is down 22% from its issue price. The state owned insurer’s market capitalisation is down by ₹1.21 lakh crore to ₹4.26 lakh crore since it got listed in May. Also, it is among the top three worst performing stocks that went public this year. As a result, LIC is no longer among the top five most valuable companies as its has dropped to ninth position in the top 10. The market cap of LIC is now well below its embedded value of Rs 5.41 lakh crore. The much hyped initial public offering of the insurer has not fared well on the exchanges since it debuted, primarily due to changed sentiment in the market. <div type="image" title="top 10 company" height="900" width="1200" msid="93185779" hostid="261" sizebytes="62702"></div>LIC stock movement more than just a replica of market The stock of the insurance giant is known to reflect the market’s volatility, given LIC owns a meaningful pie of the equity market. However, the share price has crashed 22% in 2022 so far more, while the Sensex has slipped nearly 6%. LIC owns 4% of the entire equity market and 2% of the bond market. So, every time the market or bond yields move, its fortunes change. LIC manages more than half of the life insurance policies of the country. As and when their premiums come in, it diverts these massive funds into various forms of investments be it in debt or equity. Some analysts believe private insurance players are better in terms of providing returns to investors. “While we appreciate LIC’s market-leading position and comfortable valuations, we prefer private sector peers that have better growth, profitability and therefore higher return on embedded value (RoEV) prospects,” said analysts at Emkay Research. In the last one decade, LIC has lost market share to private players because of a shift in customer preference for life insurance products beyond traditional products and new distribution channels. “LIC has not been able to match the private players in this transition and has lost market share at an accelerated pace. In addition, a mature life insurance company like LIC derives much of its valuation from embedded value (EV), and value addition by value of new business (VNB) is not very material. In this context, it is important to note that LIC’s EV is largely created after the bifurcation of policyholders’ fund in September 2021. A large part of this EV is sitting in the form of equity MTM gains in non-par policyholders’ assets, bringing higher volatility and unpredictability to the EV growth trajectory,” says Emkay Research. After a huge fall in the share price of LIC, analysts at JP Morgan believe markets are mispricing the stock. “LIC’s new business value is only 1% of its policies in force. Therefore, with 99% of value from old policies, we see the 0.75x P/Embedded Value as unduly harsh, even assuming no growth. In reality, LIC has picked up growth recently and we forecast 6% FY22-24E growth,” said the report by JP Morgan. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tata-steels-shares-are-trading-at-97-today-heres-why/articleshow/93178173.cms">Here’s why shares of Tata Steel &amp; Bajaj Finserv are rallying</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/markets-trade-higher-as-us-fed-rate-hike-of-75-bps-priced-in/articleshow/93177494.cms">Markets trade higher as US Fed rate hike of 75 bps priced in</a>

LIC loses ₹1.21 lakh crore value since listing

<ul><li>The listing of the most awaited issue was disappointing though widely expected. Its stock fell over 8% today.</li><li>However, analysts believe investors need not feel dejected and end up selling in losses as the long term view for life insurance products remains strong.</li><li>India’s highly underpenetrated life insurance space is still at a nascent stage and LIC is attractively positioned to capture the huge growth opportunity, say analysts.</li></ul>Almost one in every two retail investors who applied for the initial public offering of Life Insurance Corporation of India (LIC) has been allotted the shares. This is because 13.77 crore retail investors bid for 6.91 crore shares reserved for this category of investors. However, the listing of the most awaited issue was disappointing though widely expected. Its stock fell over 8% today on listing to ₹867.20 while the price band was fixed at ₹902 - ₹949 per share. Hold LIC for the long term, recommend analysts But there is no case to feel dejected and go on a selling spree, believe analysts. They recommend them to hold them for the long term as demand for life insurance products remains strong. A report by CareEdge expects the life insurance industry to grow at around 12-14% for the next three to five years. “Insurance demand is positively correlated with economic growth and grows at a multiple to the GDP. FY23 has started on a strong note, and LIC’s growth momentum over the past few months comes ahead of its initial public offering…Overall, the outlook is expected to be positive in the medium term,” said the report. Moreover, stock analysts also believe at the current market prices, LIC’s share price is significantly cheaper compared to listed players. This is despite the fact that LIC is a dominant player with 60% market share in premiums. “At current price, LIC is trading at a price-to-earnings P/EV (embedded value) of close to 1.08 times, which is at a significant discount to other listed private life insurance companies like HDFC Life, ICICI Pru Life, and SBI Life,” said Yash Gupta, equity research analyst at Angel One. “As expected given the adverse market conditions listing has been muted for LIC. However, cheap valuations as compared to other listed players offer comfort, and investors with a longer time horizon can hold on to their positions while retail traders with a short-term view can exit their positions in case there is any upside movement over the next few days,” he added. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Life insurers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Share price </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Market cap </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LIC India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹901 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5.68 lakh crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹547 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1.15 lakh crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Life </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,053 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1.05 lakh crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Prudential Life </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹496 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹71,241 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> Listing gains of IPO stocks maybe a thing of the past LIC is not the only company with a bad listing to its name. LIC is not the only company with a bad listing to its name. On the top of this list is PayTm which lost 60% of its value since it listed in November 2021. “As observed, the majority of big IPOs have not given strong listing debut gains. Considering previous trends, LIC has continued to take the same path. We believe that personal savings and awareness regarding insurance will increase enabling the sector to outperform in the long run and will indirectly benefit LIC as it is the market leader in this sector. We feel long term investors should continue to hold the scrip while short-term investors can wait to enter at a lower price,” said Mohit Nigam, Head - PMS, Hem Securities. Analysts believe India’s highly underpenetrated life insurance space is still at a nascent stage and LIC is attractively positioned to capture the huge growth opportunity. LIC’s brand value, large scale of operations and a wide distribution network will drive its stock performance. “The company’s issue was priced at a price to embedded value of 1.1 times, providing a valuation comfort, so we suggest investors to stay with the company for the long term despite the negative listing,” said Parth Nyati, Founder, Tradingo. <div type="image" title="LIC market share" height="900" width="1200" msid="91615323" hostid="261"></div>Some analysts even hope that the life insurance giant may give dividends to disappointed investors. “LIC didn’t pay any dividends in the last financial year, so there are high chances that the company might declare a good dividend this year, thus making it a good dividend play,” said Santosh Meena, Head of Research at Swastika Investmart. <div type="image" title="LIC profit" height="900" width="1200" msid="91615343" hostid="261"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/lic-stock-falls-8-on-listing-day-but-still-beats-hul-and-icici-to-become-indias-fifth-most-valued-company/articleshow/91609556.cms">LIC stock falls 8% on listing day, but still beats HUL and ICICI to become India’s fifth most valued company</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/elon-musk-says-twitter-deal-cannot-move-forward-until-parag-agrawal-proves-less-than-5-spam-account-claim/articleshow/91615141.cms">Elon Musk says Twitter deal cannot move forward until Parag Agrawal proves less than 5% spam account claim</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/four-in-ten-american-users-thought-that-facebook-should-have-blocked-trump-sooner-reveal-leaked-internal-documents/articleshow/91610652.cms">Four in ten American users thought that Facebook should have blocked Trump sooner, reveal leaked internal documents</a>

There is a strong case to go long on LIC say analysts and macroeconomic indicators

The government has appointed 10 merchant bankers including Goldman Sachs (India) Securities, Citigroup Global Markets India, and Nomura Financial Advisory and Securities India to manage the mega initial pub<keyword id="6367143" type="General" weightage="20" keywordseo="lic" source="Orion">lic</keyword> offering of country's largest insurer LIC. Other selected bankers include SBI Capital Market, JM Financial, Axis Capital, BofA Securities, JP Morgan India, ICICI Securities, and Kotak Mahindra Capital Co Ltd, a circular on the divestment department website said. "Government has finalised the book running lead managers and some other advisors for the <keyword id="8699517" type="General" weightage="20" keywordseo="ipo-of-lic" source="Orion">IPO of LIC</keyword>," DIPAM Secretary Tuhin Kanta Pandey tweeted. The disinvestment department had invited applications for the appointment of merchant bankers on July 15. Following this, 16 merchant bankers made presentations for managing listing and partial disinvestment of Life Insurance Corporation (LIC). The Department of Investment and Public Asset Management (DIPAM) is also in the process of appointing a legal adviser for the stake sale and the last date for putting bids is September 16. Actuarial firm Milliman Advisors LLP India has already been appointed to assess the embedded value of LIC ahead of the IPO, which is likely in the January-March quarter of 2022. The government is also mulling allowing foreign investors to pick up stakes in the country's largest insurer LIC. As per Sebi (Securities and Exchange Board of India) rules, foreign portfolio investors (FPI) are permitted to buy shares in a public offer. However, since the LIC Act has no provision for foreign investments, there is a need to align the proposed <keyword id="7922409" type="General" weightage="20" keywordseo="lic-ipo" source="Orion">LIC IPO</keyword> with Sebi norms regarding foreign investor participation. The Cabinet Committee on Economic Affairs had last month cleared the initial public offering proposal of Life Insurance Corp of India. The ministerial panel known as the Alternative Mechanism on strategic disinvestment will now decide on the quantum of stake to be divested by the government. "The potential size of the IPO is expected to be far larger than any precedent in Indian markets," the department had said. The listing of LIC will be crucial for the government in meeting its disinvestment target of Rs 1.75 lakh crore for 2021-22 (April-March). So far this financial year, Rs 8,368 crore has been mopped up through minority stake sales in PSU and the sale of SUUTI (Specified Undertaking of the Unit Trust of India) stake in Axis Bank. PTI JD SHW SHW

LIC IPO: Government picks 10 merchant bankers including Goldman Sachs, Citigroup Global and Nomura

The much-anticipated IPO of public sector insurer Life Insurance Corp of India (LIC) may well lend more sparkle to the Indian stock markets this Diwali. Speaking to IANS, <keyword id="44532" type="COMPANY" weightage="20" keywordseo="Disinvestment">Disinvestment</keyword> Secretary Tuhin Kanta Pandey noted the fact that LIC is a complex undertaking but the government is up to the challenge and will complete the market offering post October. "It may happen after October... around Diwali," Pandey said in the interview. He added that the government has already initiated its plan to clear all incumbrances on way of LIC IPO. In this regard, he said that the amendment required for the IPO has already been included as part of the Finance Bill, 2021 and will become effective once <keyword id="6354721" type="COMPANY" weightage="20" keywordseo="parliament">Parliament</keyword> gives its nod to the <keyword id="6360189" type="COMPANY" weightage="20" keywordseo="union-budget">Union Budget</keyword>. Presenting the Union Budget on Monday, Finance Minister <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> said that all the announced disinvestment proposals including the LIC IPO would be completed this fiscal. She had first made the mega announcement of the IPO in the last year's budget. On the size of the <keyword id="8843196" type="UNKNOWN" weightage="20" keywordseo="LIC-Offer">LIC offer</keyword>, Pandey said that the amount of shares to be offered in the initial public offering (IPO) would depend on the embedded value and the size. The valuation process is underway for the insurance giant. "This is an institution in which people have trusted and we don't want to break their trust. We have even asked them to be the owners (shareholders)." Pandey said that Amendment Act reserves 10 per cent of the total shares on the block for policy-holders. Regarding the requirement of listed public sector companies to achieve minimum public shareholding of 25 per cent, he said that a new rule is in the making for large PSUs having high valuations. A rule notified in 2018 had mandated every listed PSU, which has public shareholding below 25 per cent, to increase its public shareholding to at least 25 per cent, within a period of two years from the date of that notification -- August 3, 2018. The government has however extended the time period for compliance to the norm till August 2021. Currently, the government totally owns LIC and its valuation is expected to be in the range of Rs 8-10 lakh crore. Once LIC enters the stock market, it may be the largest IPO in Indian history, even if just 5 per cent of its paid-up equity capital is offered to the public. The top five IPOs in India so far are Coal India, Reliance Power, General Insurance Corporation of India (GIC Re), ONGC and SBI Cards and Payment Services. Each of these have been in the vicinity of Rs 10,000 crore. The Secretary for the Department of Investment and Public Asset Management (DIPAM) also said that the government's core focus in terms of disinvestment will be strategic sale and the major chunk of revenue from offer of shares on the stock markets, be it an IPO or offer for sale (OFS) would come from the LIC IPO. SEE ALSO: <a href="https://www.businessinsider.in/business/news/reliance-subsidiary-to-sell-all-of-its-upstream-assets-in-marcellus-shale-play-for-250-million/articleshow/80682497.cms" data-type="tilCustomLink">Reliance subsidiary to sell all of its upstream assets in Marcellus shale play for $250 million</a> <a href="https://www.businessinsider.in/business/corporates/news/kishore-biyani-says-sebi-ban-wont-stop-future-group-deal-with-reliance/articleshow/80680781.cms" data-type="tilCustomLink">Kishore Biyani says SEBI ban won't stop Future Group's deal with Reliance</a>

LIC IPO to launch in October — Government may reserve 10% portion for policyholders

<ul><li>New-age startups Zomato, PolicyBazaar, Nykaa and Paytm came under extensive selling pressure as Indian stock exchanges fell nearly 2%.</li><li>Shares of these companies fell in the range of 3-6%, with the market cap cratering by ₹6,219 crore (approx. $810 million).</li><li>Nykaa witnessed the highest fall in its share price as it lost $577 million in market cap.</li><li>It is followed by Zomato that lost $264 million in market cap due to a 3.92% decrease in its share price.</li></ul>Share prices of all new-age startups — Zomato, PolicyBazaar, Nykaa and Paytm — witnessed a major fall during early morning trade on Friday. All these shares fell in the range of 3-6%, cumulatively losing out on market cap of ₹6,219 (approximately $810 million). Nykaa, which is run by FSN E-Commerce Ventures Limited, witnessed the biggest fall in its share price. The company was trading at ₹1499.95 at 9:52 am, which is a decline of 5.86% compared to the previous close. The company lost ₹4,426.64 crore (close to $577 million) in market cap in the same time frame. It is followed by Zomato that lost ₹1,890 crore ($264 million) in market cap due to a 3.92% decrease in its share price. The company was trading at ₹58.85 at 9:52 a.m. on May 6. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><thead><tr><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;"> Shares </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Share Price </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Change* </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Market cap today* </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Change in market cap since last close* </th></tr></thead><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nykaa </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1499.95 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.86% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹71,113.36 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">- ₹4,426.64 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PolicyBazaar </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹604.25 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.98% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹27,183.50 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">- ₹1,040.50 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zomato </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹58.85 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.92% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹46,326.32 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">- ₹1,890 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paytm </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹558.00 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.52% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹36,465.70 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">- ₹942 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>*As on 9:52 a.m. on May 6, 2022 Source: BSE The year <a href="https://www.businessinsider.in/stock-market/news/there-are-huge-discounts-on-nykaa-zomato-paytm-and-shares-of-other-listed-tech-startups/articleshow/89086759.cms">2022 has not been a great one</a> for these tech stocks, which <a href="https://www.businessinsider.in/stock-market/news/paytm-nykaa-and-zomato-are-now-a-part-of-nifty-next-50/articleshow/89820712.cms">made their debut on the stock market </a>only last year. Each of these stocks have lost a significant chunk of their market cap and have largely been facing a downwards trend since the start of this year. According to Bombay Stock Exchange, Zomato’s share price has slumped nearly 60% since this year, wiping out nearly ₹64,000 crore in investor wealth in the process. Similarly, PB Fintech — the parent company of PolicyBazaar and PaisaBazaar — has lost roughly 37% of its value since January 3, the first day of trading in 2022. One97 Communications, the parent company of Paytm, was anyway <a href="https://www.businessinsider.in/stock-market/news/zomato-is-now-bigger-than-paytm-reasons-why-the-market-is-not-excited-about-vijay-shekhar-sharmas-vision-of-a-superapp/articleshow/87777762.cms">not doing great in 2021</a> but 2022 was somehow worse for the company, which lost 58.06% of its share price and market cap this year. The company’s valuation has eroded over 75% ever since its listing in November 2021. <div type="javascript" title="CardPage" contenttype="Image"><cdata><![CDATA[]]></cdata></div> Nykaa was off to a <a href="https://www.businessinsider.in/stock-market/news/nykaa-starts-trading-at-2001-a-premium-of-77-87/articleshow/87618803.cms">good start last year</a> as the company managed to double investors’ money on the day of listing. However, it has too been on a downwards trajectory this year as it witnessed over 27% dip in its share price in 2022. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/sensex-nifty-50-tank-nearly-2-and-here-are-the-top-losers-in-it-banking-and-other-sectors/articleshow/91363804.cms">Indian stock markets tank nearly 2% — here are the top losers in IT, Banking and other sectors</a> <a href="https://www.businessinsider.in/stock-market/news/ril-tvs-motor-voltas-among-stocks-to-watch-out-for-on-may-6/slidelist/91362043.cms" data-type="tilCustomLink">RIL, TVS Motor, Voltas among stocks to watch out for on May 6</a> <a href="https://www.businessinsider.in/stock-market/news/delhivery-ipo-size-cut-down-by-a-third-due-to-market-volatility-and-lic-ipo-say-analysts/articleshow/91348072.cms">Delhivery IPO size cut down by a third due to market volatility and LIC IPO, say analysts</a>

New-age startups Zomato, PolicyBazaar, Nykaa and Paytm witness sharp corrections, market cap craters by over ₹6,000 crore

<ul><li>Shares of information technology companies have been tumbling sharply since last one month mirroring its global counterparts on fear of looming recession in the US.</li><li><keyword id="14092127" type="General" weightage="20" keywordseo="bluechip-it-stocks" source="Orion">Bluechip IT stocks</keyword> that are typically considered as a safer bet during investing are now seeing huge sell off.</li><li>Although the commentary around the sector is concerning, analysts feel among other IT players Infosys could be the best bet in the situation.</li></ul>Indian IT companies have been in the ‘bear radar’ for a while now as they are <a href="https://www.businessinsider.in/tech/enterprise/news/tcs-infosys-wipro-and-other-it-companies-dream-run-could-be-over-say-analysts/articleshow/91790779.cms">witnessing a sharp fall</a> —- twice deeper than the benchmark indices. This is a part of the tech meltdown that is seen in the US as well. Both these falls are triggered by the fear of a looming recession in the country which is also the main market of Indian tech majors. “The stock prices are correcting on the possibility of recession. Known factors like margin will be hit because of supply side issues, inflationary environment and also on news that Fed will increase interest rates,” said Ashish Das, IT analyst at Sharekhan. There is still a winner in the situation -- Infosys. Even in bad times, one tech major could outdo the others and most analysts believe that it would be Infosys. The Bangalore based tech company has had a successful run in the past 3-4 years aided by strong execution and large deals. “A good part of the success in the past 4-5 years can be attributed to consistent large deal wins and strong account mining at the top,” said Kotak Institutional Equities, which expects that Infosys will lead the industry on growth. It has the cream of IT clients especially in the banking sector— eight of top ten 10 US banks and four out of top six European banks. “Infosys has done well on large deal wins and mining top accounts. In fact Infosys has had better conversion of over $50 million clients to the next level relative to <keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword> in recent years,” said a report by JM Financial. Infosys is the digital partner of choice The banking industry has been going through a rapid transformation and Infosys has aided a large part of this transformation. “Infosys has benefited from rapid transition of the industry to digital ways of operation. The company’s banking software suite, Finacle has been adopted by several firms including incumbents, challengers, neo banks and fintech and enables entry to larger IT spending. We expect strong growth to continue,” added the report by Kotak. Its digital and cloud strengths will help it become an industry leader in the next two years. “They are considered as a preferred partner for any digital transformation (by clients),” said Das. If and when the industry witnesses a slowdown due to recession, clients would ‘prefer’ top rated companies like Infosys, say analysts. “When recession comes, the market will consolidate. In such a situation, clients will choose the best vendor who offers more value added services. In the case of Infosys, the company has made enough investments in this regard and now they are getting the benefit of it,” said Das. <div type="image" title="Infosys client base" height="900" width="1200" msid="91952834" hostid="261"></div> <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> Industry sees strong demand So far management of IT companies including Infosys feel there is no visibility of impact on technology spending by clients on the possibility of recession. Analysts feel technology spending will be the last thing for companies to cut on because of pressure on revenues as most companies are focusing on cloud migration and digital initiatives. Most businesses across sectors now want both offline as well as online channels. So large companies are still investing to strengthen their business model so that they can stay relevant to customers. “In the current situation, investors should be selective in investing in IT companies rather than going for any company. One should look for companies where there is good visibility of growth and where firms can manage their operating margin in a tough environment,” said Das. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/corporates/news/tata-infosys-lic-are-among-top-10-of-indias-most-valuable-brands-check-out-others/slidelist/91943566.cms">Tata, Infosys, LIC are among top 10 of India’s most valuable brands — check out others</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/tech/news/india-has-jugaad-businesses-startup-ideas-that-bank-on-sharing-passwords-of-netflix-prime-video-and-other-otts/articleshow/91942222.cms">India has jugaad businesses &amp; startup ideas that bank on sharing passwords of Netflix, Prime Video and other OTTs</a>

Infosys could remain the ‘vendor of choice’ even if recession comes, say analysts

<ul><li>Adani Green Energy, a renewable energy company under Adani Group has entered the list of top 10 most valuable firms in terms of market capitalisation.</li><li>Shares of the company have more than doubled investors' money in just three months of 2022.</li><li>Billionaire and largest promoter of the firm <keyword id="111343" type="General" weightage="20" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword>’s net worth also got a big boost due to this to become the sixth richest person in the world.</li></ul>Gautam Adani’s renewable energy firm, Adani Green Energy, has stolen the investor limelight with its sharp rally in shares leading it to enter the list of India’s most valuable companies. Adani Green Energy has more than doubled investors' money in 2022 so far i.e., in just three months. This exceptional performance has boosted more rally for the stock that spiked 27% in the last five trading days. Not only investors, billionaire and largest promoter of the firm Gautam Adani’s net worth also went up because of this to become <a href="https://www.businessinsider.in/business/news/gautam-adani-is-now-the-sixth-richest-person-in-the-world-as-per-forbes-real-time/articleshow/90698849.cms">sixth largest richest person in the world</a>. He has surpassed Oracle’s Larry Ellison and Google’s Sergey Brin and Larry Page to reach the spot. <div type="image" title="adani green chart" height="900" width="1200" msid="90819056" hostid="261"></div>The renewable company’s stellar rise in share price has brought it into the top 10 club of highest valued companies in the listed space. Adani Green Energy ranks ninth in the list of top 10 companies, as of April 13. The seven year-old company is now bigger than even large firms like <keyword id="45123" type="General" weightage="20" keywordseo="hdfc" source="Orion">HDFC</keyword>, Bajaj Finance, Bharti Airtel, ITC, Wipro, L&amp;T and many more. Also, it is the first non-Nifty 50 company that is part of the top 10 club. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top 10 companies in the market </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Market capitalisation </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RIL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹17.31 lakh crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹13.42 lakh crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8.14 lakh crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹7.34 lakh crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5.32 lakh crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindustan Unilever </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5.01 lakh crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4.61 lakh crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Green Energy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4.46 lakh crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4.44 lakh crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4.32 lakh crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>*As of April 13, 2022 Besides, in recent times, investors have been filled with awe for companies under the clean and renewable energy space. Adding to it, Adani Group has a target of turning a net carbon zero economy by 2070. As a result, Abu Dhabi-based International Holding Company has said to invest $2 billion as primary capital in three Adani portfolio companies – Adani Green Energy, Adani Transmission, and Adani Enterprises helping the Group’s mission to become carbon free. Besides, the Indian government has also increased focus towards renewable energy and made a target of achieving 500 gigawatts of installed power capacity from non-fossil sources by 2030 and becoming net zero by 2070. Adani Green Energy is an Indian renewable energy company headquartered in Ahmedabad, Gujarat, which has a mix of solar, wind and hybrid power projects across the country. It is said to be one of the largest renewable companies in India, with a current project portfolio of 20,284 megawatt. It develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects. Further, the company supplied the electricity generated from the projects to central and state government entities and government-backed corporations. Adani Green Energy made a profit of ₹183 crore in FY21 after making a loss in the preceding two years. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,124 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹183 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2549 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹67.96 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,058 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹475.05 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/ipo-bound-pinelabs-acquired-merchant-payment-solution-provider-mosambee/articleshow/90816088.cms">IPO-bound PineLabs just added a million merchants to its kitty with its latest acquisition</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/lic-ipo-may-finally-be-launched-in-the-last-week-of-april-say-reports/articleshow/90814773.cms">LIC IPO may finally be launched in the last week of April, say reports</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/yamaha-shows-off-neos-and-e01-electric-scooters-in-india-heres-everything-you-need-to-know/slidelist/90814581.cms">Yamaha shows off Neo’s and E01 electric scooters in India – here’s everything you need to know</a>

Gautam Adani’s renewable energy firm now bigger than HDFC, Bajaj Finance, and Bharti Airtel

<ul><li>Shares of the Mukesh Ambani owned Reliance Industries fell sharply today by as much as 4% in reaction to its earnings results on Friday evening.</li><li>The company had reported a weaker than expected net profit with a fall in profitability for the first time in FY22.</li><li>Indian benchmark indices, Sensex and Nifty 50, also remain in a weak spot as there was a huge sell-off in shares of heavyweight Reliance Industries.</li></ul>Shares of oil-to-telecom conglomerate company owned by Mukesh Ambani were among the biggest losers on the street and one of the reason benchmark indices was still in red. Reliance Industries <a href="https://www.businessinsider.in/business/corporates/news/reliance-industries-first-indian-company-to-near-100-billion-in-revenue/articleshow/91381614.cms">reported </a>a weaker than expected net profit and also reported a fall in profitability for the first time in FY22. Indian benchmark indices, Sensex and Nifty 50 remained in a weak spot as there was a huge sell-off in shares of heavyweight Reliance Industries amid poor market conditions. The company posted a net profit of ₹18,000 crore with a revenue of ₹2.11 lakh crore in the March quarter – a decline of 12.25% in profit sequentially, while revenue is up 10.77%. Analysts expected a growth of 4.7% in profit and 14.5% in revenue. Consolidated profit after tax missed the street’s estimate by 4% year-on-year and 3% quarter-on-quarter due to lower other income and miss in retail business, say analysts at Sharekhan. <div type="image" title="ril profit 2" height="900" width="1200" msid="91433413" hostid="261"></div>Meanwhile, analysts at Kotak Institutional Equities feel rise in net debt levels, elevated capex and negative FCF (free cash flow) were a tad disappointing yet again in the March quarter earnings of the company. Quarterly performance of Reliance Retail in Jan-Mar was disappointing The latest report by Sharekhan analysing the company’s March quarter earnings states that the retail revenues were muted and remained flat on quarter versus expectation of decent growth in Jan-Mar. Further, analysts feel an IPO of the company’s consumer business would give better returns to investors over coming years and unlock value in the digital and retail business of the firm. Reliance Retail’s net profit declined by ₹120 crore in the January-March quarter of 2022, on a quarterly basis. The company reported a net profit of ₹2,139 crore in Q4 compared to ₹2,239 crore in the previous quarter. Even on a year-on-year basis, Reliance Retail’s net profit declined. Analysts at YES Securities believe <keyword id="6484187" type="General" weightage="20" keywordseo="ril" source="Orion">RIL</keyword>’s retail business could be impacted by the current inflationary environment in FY23. The report adds that the petrochemical environment appears weak primarily due to tepid Chinese demand and firmer naphtha prices. RIL exports Naphtha that typically is consumed in steam crackers for petrochemical manufacturing. Decline in subscribers at Reliance Jio remains a key negative, say analysts This is the third consecutive quarter of <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-results-q4-fy22-profit-revenue-subscriber-growth/articleshow/91374478.cms">subscriber loss </a>for Reliance Jio – it has lost over 30 million subscribers over the last three quarters. Overall, for the financial year 2021-22, Jio’s subscriber numbers are down by 16 million. Slower-than-expected subscriber additions and ramp-up of broadband services, remains a key risk for the company, says analysts at Sharekhan. The telecom segment posted 14% growth in its net profit between January and March 2022, which is Jio’s <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-results-q4-fy22-profit-revenue-subscriber-growth/articleshow/91374478.cms">strongest profit</a> growth in five quarters, but still below <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-could-post-a-blockbuster-5000-crore-profit-in-the-march-quarter-say-analysts/articleshow/91316654.cms">analyst expectations of ₹5,000 crore quarterly profit</a>. On the bright side, analysys believe that the company's ARPU (average revenue per user) could improve further in FY23. As of 11:34 a.m, shares of the company were down 2.88% at ₹2,545 per share. Going ahead, analysts expect shares to increase by up to 27%. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage firm </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sharekhan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,050 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">YES Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,840 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,050 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Morgan Stanley </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,253 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jefferies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,950 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CLSA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,955 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Goldman Sachs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,200 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/snacks-health-bills-electricity-bills-and-more-will-add-to-your-chunkier-home-loan-emis/articleshow/91429752.cms">Snacks, health bills, electricity bills and more will add to your chunkier home loan EMIs</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/last-day-to-subscribe-to-lic-ipo-gmp-drops-to-60/articleshow/91424705.cms">Last day to subscribe to LIC IPO, GMP drops to ₹60</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/campus-activewear-shares-debuts-at-21-premium-despite-weak-market-trends/articleshow/91430347.cms">Campus Activewear shares debuts at 21% premium despite weak market trends</a>

RIL tumbles nearly 4% on weaker than expected profits, slowdown in retail business and decline in Jio subscriber additions

<ul><li>Shwetank Verma of <keyword id="11927726" type="General" weightage="20" keywordseo="indian-insurtech-association" source="Orion">Indian Insurtech Association</keyword> highlighted that the online insurtech segment would create 1 lakh direct jobs by 2025.</li><li>Shishir Mankad of <keyword id="4893676" type="General" weightage="20" keywordseo="praxis-global-alliance" source="Orion">Praxis Global Alliance</keyword> expects that 2.5-3 lakh employment opportunities, both direct and indirect, would be created by insurtech industry by 2024.</li><li>Auto, health and life are expected to continue to be a big chunk of online insurance sales in India.</li></ul>Online insurance sellers in India are expected to create 250,000-300,000 jobs in the next three years as the insurtech sector is at the cusp of breakthrough growth. Shishir Mankad, managing partner and head of financial services at Praxis Global Alliance, told Business Insider that this would include both direct and indirect employment opportunities across verticals — technology as well as functional roles in product design and analytics, customer journey design, automation as well as fulfillment roles in sales and distribution, claims processing and more. The segment is expected to generate part-time earning opportunities for another 2-3 million people in the same time frame, Mankad added. Meanwhile, Shwetank Verma, co-founder of Indian Insurtech Association and founder of investment firm <keyword id="6403908" type="General" weightage="20" keywordseo="leo-capital" source="Orion">Leo Capital</keyword>, in an email interaction with Business Insider said that the online insurance sellers in India are expected to double their premium by 2025 and create over a lakh direct jobs. “The insurance distribution in India has been changing in a very different way. There was a time when distribution was largely a feet on street model. LIC [Life Insurance Corporation] alone has roughly 1.5 million agents and the rest of the industry put together nearly another 0.5 million. There are a similar number of executives working as employees in the industry. However, over the past 5 to 7 years attempts, have been made to create digital distribution infrastructure. These efforts will increase in the next few years,” Sanjib Jha, chief executive of Coverfox said. Indian online insurance players include initial public offering (IPO)-bound <keyword id="696009" type="General" weightage="20" keywordseo="policybazaar" source="Orion">PolicyBazaar</keyword>, Digit Insurance, BankBazaar, Coverfox and others. ACKO General Insurance is one of the startups that issues their own insurance policies instead of being a third-party seller. <keyword id="3067182" type="General" weightage="20" keywordseo="dexter-capital" source="Orion">Dexter Capital</keyword>’s founder Devendra Agrawal, in an email interaction with Business Insider, noted that the Indian insurtech segment is a very large subsector of fintech and is largely dominated by traditional companies. There is very little innovation and user friendliness in the current offering, but there is scope for greater innovation as more startups emerge in the segment. He added that the new insurtech segment is likely to focus on three things. First, new product launches. Second, a more user-friendly interface and processes. Third, newer models would be introduced when it comes to insurance selling. Shwetank Verma of Indian Insurtech Association reflected a similar view, highlighting that there is a lot of scope for innovation in the insurtech sector and new categories like cyber insurance, <a href="https://content.naic.org/cipr_topics/topic_parametric_disaster_insurance.htm">parametric insurance </a>— a non-traditional insurance product that offers pre-specified payouts based upon a trigger event — and would gain more traction this decade by 2030. “Most of the insurtech action has been in terms of distribution of policies and a couple of insurers who are digital-first. While these categories will certainly see growth, our view is that the sector is at a tipping point. We expect to see a lot more action on other parts of the insurance value chain, be it underwriting or risk management or claims processing, or product design such as micro-insurance or embedded products,” Mankad of Praxis Global Alliance said. Even as the Indian insurtech sector progresses, health, auto and life insurance will continue to be the major chunk of insurance sales both online and offline, as per industry experts. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/google-bans-eight-dangerous-crypto-apps-find-out-if-you-have-them-on-your-phone/articleshow/85553621.cms">Google bans eight dangerous crypto apps – find out if you have them on your phone</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/india-continues-to-lead-in-ipv6-expansion-with-a-61-23-adoption-rate-globally/articleshow/85554413.cms">India continues to lead in IPv6 expansion with a 61.23% adoption rate globally</a>

You Searched For "lic embedded value" and got 11 results

LIC's embedded value is estimated at Rs 5.4 lakh crore

IANS

These are the discounts and perks LIC policyholders will get while applying for the IPO

Bhakti Makwana

LIC loses ₹1.21 lakh crore value since listing

Bhakti Makwana

There is a strong case to go long on LIC say analysts and macroeconomic indicators

Bhakti Makwana

LIC IPO: Government picks 10 merchant bankers including Goldman Sachs, Citigroup Global and Nomura

PTI

LIC IPO to launch in October — Government may reserve 10% portion for policyholders

IANS

New-age startups Zomato, PolicyBazaar, Nykaa and Paytm witness sharp corrections, market cap craters by over ₹6,000 crore

Kritti Bhalla

Infosys could remain the ‘vendor of choice’ even if recession comes, say analysts

Bhakti Makwana

Gautam Adani’s renewable energy firm now bigger than HDFC, Bajaj Finance, and Bharti Airtel

Bhakti Makwana

RIL tumbles nearly 4% on weaker than expected profits, slowdown in retail business and decline in Jio subscriber additions

Bhakti Makwana

Online insurance sellers expected to create up to 300,000 jobs in the next three years

Kritti Bhalla

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