In meeting with Malaysian PM, Modi raises issue of Dr Zakir Naik’s extradition

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.

Mandya, Jul 24: Pressing for a total ban on stone mining and quarrying in and around the villages surrounding Krishna Raja Sagar Dam in the District, many organisations have called for Mandya bandh on July 29.

The bandh has been supported by Raitha Sangha, Karunada Sevakara Sanghatane, Auto Drivers Association, Jaya Karnataka, Bharatiya Samvidhana Hitharakshana Vedike, Sugarcane Growers Association, Vokkaligara Seva Trust and Dalita Sangarsh Samiti (Krishnappa faction).

The activists said that the State Government must immediately take steps and permanently ban mining in 20 km radius around KRS as continuous blasting for stones is causing grave danger to the structure.

Chitradurga, Feb 10: President of the BJP State unit Nalin Kumar Kateel on Sunday hit out at Congress leader M. Mallikarjun Kharge for allegedly likening Prime Minister Narendra Modi to a “zero candle bulb”.

Mr. Kateel told reporters here that Mr. Modi was a “1,000 watt bulb that gave light to the world”, and compared Mr. Kharge to a lamp that had burned out politically.

Mr. Kateel charged that Mr. Kharge had become frustrated after losing the elections and after his party did not even consider him for a Rajya Sabha seat. And this had made the Congress leader to make wild charges against the Prime Minister.

Lashing out at the Congress, Mr. Kateel alleged that the Congress was continuing the “divide and rule” policy of the British and accused the former Prime Minister H.D. Deve Gowda of being the “other face of the Congress”.

Mr. Kateel also came down on the former Chief Minister Siddaramaiah. He ridiculed the Congress for the delay in choosing a new KPCC chief after Dinesh Gundu Rao submitted his resignation.