A day before Red brigade’s ‘harmony rally’, Mangaluru streets turn Saffron

New Delhi, Feb 2: Budget 2020 announcement that insurance behemoth LIC will be listed was well received by market participants who said this will be "IPO of the decade" akin to the Saudi Aramco listing.

Finance Minister Nirmala Sitharaman on Saturday said Life Insurance Corporation (LIC) will be listed as part of the government disinvestment initiative.

A "highlight of the budget is the LIC IPO, which is akin to the Saudi Aramco listing for Indian capital markets, and will be IPO of the decade," Vijay Bhushan, President, Association of National Exchanges Members of India (ANMI) said.

According to Krishna Kumar Karwa, Managing Director, Emkay Global Financial Services, the LIC IPO will be a big positive for corporate governance and transparency and will open up one more avenue for fund raising for the government over the years.

Metropolitan Stock Exchange, Interim CEO, Balu Nair said: "The LIC listing will be eagerly awaited by investors and will provide huge fillip to capital raising through the primary market." The government proposes to sell a part of its holding in LIC through an initial public offer, Sitharaman said while presenting Budget 2020-21.

"The government will sell part of LIC through its listing in the stock market which is also a positive trigger for the market," Amit Gupta, CO-Founder and CEO, TradingBells.

Jaideep Hansraj, MD and CEO of Kotak Securities said listing of LIC would help bridge a gap in the Fiscal Deficit for FY21.

Currently, the government owns the entire 100 per cent stake in LIC.

Saudi Aramco shares were listed in December last year.

Bengaluru, Apr 11: Seven more people have tested positive for coronavirus taking the tally to 214 in the state.

"Coronavirus cases rise to 214 in Karnataka, with seven more people testing positive between 5 PM Friday and 12 PM Saturday," said the Karnataka health department.

According to the health department, all these seven people have a history of contact with COVID-19 patients. Five of them are workers of a pharmaceutical company in Mysuru.

"Out of the total cases in the state, six people have died while 37 others were cured or discharged," added the state health department.

New Delhi, Mar 30: A Muslim woman from Jammu and Kashmir has donated her savings of Rs 5 lakh, meant for the Hajj pilgrimage, to the RSS-affiliated 'Sewa Bharati' after apparently being "impressed with the welfare work" done by the outfit amid the lockdown due to the novel coronavirus pandemic.

Khalida Begum, 87, who saved Rs 5 lakh for Hajj, was forced to defer her plans for the pilgrimage due to the lockdown.

Hajj is the annual Islamic pilgrimage to Mecca in Saudi Arabia, the holiest city of Muslims.

"Khalida Begum ji was impressed with the welfare work done by the Sewa Bharati in Jammu and Kashmir during the tough time the country is passing through due to sudden outbreak of COVID-19 and decided to donate Rs 5 lakh to the organisation," Arun Anand, head of RSS media wing Indraprastha Vishwa Samvad Kendra (IVSK), said.

The woman wants that this money should be used by the community service organisation Sewa Bharati for the poor and the needy in Jammu and Kashmir. She had saved this amount for performing Hajj, plans for which she deferred due to the present situation, Anand said.

"Khalida Begum ji was among the first few women in Jammu and Kashmir who got educated in a convent. She is the daughter-in-law of Colonel Peer Mohd Khan, who was president of the Jana Sangh," he said.

Jana Sangh was also an associate of RSS and later became the Bharatiya Janata Party.

Anand said despite her age, she had been very active in welfare works for the women and the downtrodden in Jammu and Kashmir. Her son, Farooq Khan, a retired IPS officer, is presently serving as an adviser to the Jammu and Kashmir Lieutenant Governor.

Meanwhile, since the lockdown was announced, Sewa Bharati volunteers across the country have been providing food and other essential items to the needy. The Sangh-affiliate's volunteers were seen on Saturday managing crowd and providing food to them at the Anand Vihar bus terminal in Delhi.