JD(S) could provide outside support to Congress government

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, Jun 16: Former prime minister H D Deve Gowda on Tuesday termed as 'disturbing' the violent clash between Indian and Chinese troops in Galwan Valley and said the government should offer a clearer picture to the nation on the border issue.

He sought to know as to how Indian soldiers lost their lives during a de-escalation process and said Prime Minister Narendra Modi and Defence Minister Rajnath Singh should come out with a clearer picture.

"Reports coming from #GalwanValley are disturbing. Why did our soldiers lose their lives during a de-escalation process? In national interest, the PM and RM should offer a clearer picture to the nation on the border issue with the Chinese. #LADAKHSTANDOFF," Gowda tweeted. An Indian Army officer and two soldiers were killed during the confrontation with Chinese troops in the Galwan Valley in eastern Ladakh on Monday night, the first such incident in the last 45 years that reflected massive escalation in the five- week border row.

The Army said India lost an officer and two soldiers during the violent face-off, while there were casualties on the Chinese side as well.

Mangaluru, Mar 27: Thousands of letters are pending at various Post offices in Dakshina Kannada for delivery since declaration of lockdown due to Corona virus which is spreading like wildfire in the country.

Of the 542 offices in the district, only eight are functioning and the only post office opened in the district facilitates only withdrawal of funds by the customers, district senior official said here on Friday.

There are in all 53 departmental offices and 96 branch offices in Mangaluru Taluk and about 4,000 general postcards and 1,000 Registered and Speed Posts are pending for delivery. Also, there are a total of 393 post offices in the Puttur division and only a few are opened. About 48 postal bags are pending and there are about 200-300 postcards in each bag.