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The housing finance major has entered into a share purchase agreement for sale of 44,12,000 equity shares, representing 0.62% of the issued and paid-up share capital of HDFC ERGO. The stake sale is being done in accordance with the direction of the Reserve Bank of India requiring HDFC to reduce its shareholding in HDFC ERGO to 50% or below. The total income of HDFC ERGO for the year ended 31 March 2021 was Rs 7,557.50 crore, which was 5.43% of the consolidated income of HDFC. The networth of HDFC ERGO as at 31 March 2021 was Rs 3,253.55 crore which was 1.96% of the consolidated net worth ...

  Life Insurance Corporation of India’s (LIC) holding in nearly 300 companies has come to all time low, a study by Primeinfobase.com revealed on Monday. However, value is at all-time high. Concurrently, holding of Mutual Fund (MF) in various companies also declined for fourth successive three-month periods. The study comprises of 296 companies where LIC has holding of at least 1 per cent. In these companies, the study said, LIC’s holding slipped to an all-time low of 3.66 per cent as on March 31 from 3.7 per cent as on December 31, 2020. “this was on account of profit booking by India�...

LIC's holding across 296 companies where its holding is more than 1 per cent slipped to an all-time low of 3.66 per cent as on March 31, 2021, down from 3.70 per cent as on December 31, 2020 and from all-time high of 5 per cent as on June 30, 2012, as per primeinfobase.com, an initiative of PRIME Database Group. Pranav Haldea, the managing director of Prime Database Group attributed this to profit-booking by India's largest institutional investor, adding that the stake held had touched an all-time high of 5 per cent in 2012. Interestingly, in value terms there was an increase in the equity...

Photo Credit: IANS IANSLive New Delhi, May 10 (IANS) LIC's holding across 296 companies where its holding is more than 1 per cent slipped to an all-time low of 3.66 per cent as on March 31, 2021, down from 3.70 per cent as on December 31, 2020 and from all-time high of 5 per cent as on June 30, 2012, as per primeinfobase.com, an initiative of PRIME Database Group. To get full access of the story, click here to subscribe to IANS News Service © 2021 IANS India Private Limited. All Rights Reserved. The reproduction of the story/photograph in any form will be liable for legal action. For news, ...

Congress postpones party president election The Congress Working Committee unanimously decided on Monday to postpone the election to the post of party president until the Covid-19 situation in the country improves, sources said. The Congress had earlier decided to have a new Congress president in place before June 2021 and the party's central election authority chaired by Madhusudan Mistry had proposed holding the election on June 23. Iron ore's 10% surge adds to commodities boom Iron ore futures surged more than 10% and copper jumped to a record amid increasing bets they’ll be among the...