Schoolboy drowns during immersion of Ganesha idol

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.

Jan 14: A day after it moved the Supreme Court against the controversial Citizenship Amendment Act (CAA), the Kerala government on Tuesday said it would continue its fight against the legislation as it "destroys" the secularism and democracy in the country.

The CPI(M)-led government had on Monday moved the apex court challenging the CAA and sought to declare it as 'ultra vires' of the Constitution. State Industries Minister E P Jayarajan told reporters here that the state has moved the apex court and will explore all options to fight the Act.

"The state government will to go to any extent and continue its fight against CAA. This Act destroys democracy in the country. This will only help in implementing the RSS agenda, to drive the nation through a fascist regime, and destroying the secularism and democracy in the country. The RSS and the Sangh Parivar cannot implement this law just by using muscle power," Jayarajan said.

Tourism Minister Kadakampally Surendran tweeted that the state became the first in the country to approach the top court against the Act. "Kerala government files lawsuit against the unconstitutional CAA. Kerala becomes the first state in the country to go to the Supreme Court against CAA.

"Kerala leads the way," he said in the tweet. In a suit filed in the apex court, the Kerala government has sought to declare that the CAA 2019 was "violative" of Article 14 (Equality before law), 21 (Protection of life and personal liberty) and 25 (Freedom of conscience and free profession, practice, and propagation of religion) of the Constitution.

It also claimed that the law was violative of the basic principle of secularism enshrined in it. The state Assembly had on December 31, 2019, passed a unanimous resolution against the CAA and became the first state to do it.

Bengaluru, Jun 8: The Bharatiya Janata Party (BJP) on Monday fielded Eranna Kadadi and Ashok Gasti as it's candidates for the June 19 Rajya Sabha elections from Karnataka, ignoring the recommendations of the state BJP unit.

The state unit had recommended the names of Prabhakar Kore, Ramesh Katti and Prakash Shetty.

The names of the two candidates were announced in a party statement in Delhi.

The election is scheduled on June 19 to fill four Rajya Sabha seats from Karnataka, represented by Rajeev Gowda and BK Hariprasad of Congress, Prabhakar Kore of BJP and D Kupendra Reddy of JD(S) that will fall vacant on June 25, with their retirement.

June 9 is the last date for filing nominations. Party sources said both Kadadi and Gasti come from an RSS background.

Kadadi hails from Belagavi, while Gasti is a resident of Raichur.

The 54-year-old Eranna Kadadi started his active political career in 1989 and unsuccessfully contested the assembly election from Arambhavi constituency in 1994 on a BJP ticket.

He had also served as the Belagavi district Panchayat president in 2010.

Ashok Gasti is a lawyer by profession and former general secretary of the BJP's OBC Cell.

He is the former chairperson of the Backward Class Development Corporation.